NasdaqGS:GBLIInsurance
Global Indemnity Group (GBLI) Stock Rises On Underwriting Strength And Stubborn Costs
Global Indemnity Group stock jumped 4.8% to US$28.52 the first trading day after earnings, which signals investors liked what they saw. The headline is simple: profitability in the core insurance engine looked solid while the expense ratio stayed heavy as the company keeps plowing money into technology and new platforms.
Q2 basic earnings per share of US$0.77 and net income of US$11.1m sat on top of a quarter where the accident year combined ratio held comfortably below 100%. For an insurer...