Global Indemnity Group, LLC Announces Additional Share Buyback Authorization
04 January 2023 - 8:05AM
Business Wire
Global Indemnity Group, LLC (NYSE:GBLI) (“GBLI”) today announced
that it has spent $21.9 million under its previously announced
stock purchase program and authorized an additional repurchase
amount of $38.1 million for an aggregate stock purchase program of
$60 million. The authorization to repurchase shares will expire on
December 31, 2027. The timing and actual number of shares
repurchased, if any, will depend on a variety of factors, including
price, general business and market conditions, and alternative
investment opportunities. Further, GBLI may utilize a variety of
stock repurchase methods, including open market purchases or
privately negotiated transactions, all in compliance with GBLI’s
Insider Trading Policy, the United States Securities and Exchange
Commission, and other applicable legal requirements. The repurchase
program does not obligate GBLI to acquire any amount of A Common
Shares, and the repurchase program may be suspended or discontinued
at any time at GBLI’s discretion.
About Global Indemnity Group, LLC and its
subsidiaries
Global Indemnity Group, LLC (NYSE:GBLI), through its several
direct and indirect wholly owned subsidiary insurance companies,
provides both admitted and non-admitted specialty property and
casualty insurance coverages and individual policyholder coverages
in the United States through its United National/Penn-America
Binding & Programs Unit and its InsurTech Unit, as well as
reinsurance worldwide.
For more information, visit the Company’s website at
www.gbli.com.
Forward-Looking Information
The forward-looking statements contained in this press release
do not address a number of risks and uncertainties. Investors are
cautioned that Global Indemnity’s actual results may be materially
different from the estimates expressed in, or implied, or projected
by, the forward-looking statements. These statements are based on
estimates and information available to us at the time of this press
release. All forward-looking statements in this press release are
based on information available to Global Indemnity as of the date
hereof. Please see Global Indemnity’s filings with the Securities
and Exchange Commission for a discussion of risks and uncertainties
which could impact the company and for a more detailed explication
regarding forward-looking statements. Global Indemnity does not
assume any obligation to update the forward-looking statements
provided to reflect events that occur or circumstances that exist
after the date on which they were made.
[1] Disseminated pursuant to the "safe harbor" provisions of
Section 21E of the Security Exchange Act of 1934.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230103005558/en/
Media Stephen W. Ries Head of Investor Relations (610)
668-3270 sries@gbli.com
Global Indemnity (NYSE:GBLI)
Historical Stock Chart
From Sep 2024 to Oct 2024
Global Indemnity (NYSE:GBLI)
Historical Stock Chart
From Oct 2023 to Oct 2024