Revenue: As of FY2025, the actual value is USD 450.1 M, beating the estimate of USD 446.95 M.EPS: As of FY2025, the actual value is USD 1.75, missing the estimate of USD 2.08.EBIT: As of FY2025, the actual value is USD -29.37 M.Global Indemnity Group, LLC reported financial results for the year ended December 31, 2025, with comparisons to 2024, and no outlook or guidance content was provided .<h4>Operational Metrics</h4><ul><li>Net Losses from California Wildfires: Pre-tax net losses totaled - $15.7 million, and after-tax losses were - $12.0 million for the year ended December 31, 2025 .</li><li>Pretax Adjusted Operating Contribution: This increased by 17.5% to $95.4 million in 2025 from $81.2 million in 2024 .</li><li>Adjusted Return on Equity: This improved to 14.7% in 2025, up from 12.7% in 2024 .</li><li>Current Accident Year Combined Ratio Excluding California Wildfires: This improved to 92.2% for the full year 2025, compared to 95.4% in 2024. The ratio progressed throughout 2025: 94.8% for the 1st quarter, 94.7% for the 1st half, and 93.2% for the 1st nine months .</li><li>Current Accident Year Underwriting Income Excluding California Wildfires: This reached $32.7 million for the full year 2025, an increase from $18.8 million in 2024 .</li><li>Operating Income Excluding California Wildfires: This was $40.2 million in 2025, a decrease from $42.9 million in 2024, primarily due to elevated corporate expenses .</li><li>Operating Income (As Reported): This was $28.2 million in 2025, down from $42.9 million in 2024 .</li><li>Net Income Available to Common Shareholders (As Reported): This was $24.9 million in 2025, a decrease from $42.8 million in 2024 .</li><li>Net Income Available to Common Shareholders Excluding California Wildfires: This was $36.9 million in 2025, compared to $42.8 million in 2024 .</li><li>Calendar Year Combined Ratio: This was 98.6% in 2025, an increase from 95.6% in 2024, reflecting the 4-point Wildfire impact offset by a 1-point improvement excluding Wildfires .</li><li>Loss Ratio: This was 58.7% in 2025, compared to 56.6% in 2024 .</li><li>Expense Ratio: This was 39.9% in 2025, compared to 39.0% in 2024, reflecting the build-out of the Katalyx platform .</li><li>Underwriting Income: This was $7.3 million in 2025, down from $17.8 million in 2024 .</li><li>Corporate Expenses: These were $31.7 million in 2025, up from $25.7 million in 2024 .</li><li>Net Losses and Loss Adjustment Expenses: These were $228.3 million in 2025, compared to $213.2 million in 2024 .</li><li>Acquisition Costs and Other Operating Expenses: These amounted to $156.8 million in 2025, up from $147.3 million in 2024 .</li><li>Income Before Income Taxes: This was $33.3 million in 2025, a decrease from $55.0 million in 2024 .</li><li>Income Tax Expense: This was $8.0 million in 2025, down from $11.7 million in 2024 .</li><li>Net Income: This was $25.3 million in 2025, compared to $43.2 million in 2024 .</li></ul><h4>Segment Performance (Income/Loss)</h4><ul><li>Agency and Insurance Services: Segment income was $4.1 million in 2025, compared to $0 in 2024 .</li><li>Belmont Core: Segment income was $2.9 million in 2025, down from $19.7 million in 2024. Excluding California Wildfires, Belmont Core segment income was $18.6 million in 2025, compared to $19.7 million in 2024 .</li><li>Belmont Non-Core: Segment loss was - $1.0 million in 2025, compared to a loss of - $1.9 million in 2024 .</li><li>Consolidated Segment Income: This was $6.0 million in 2025, down from $17.8 million in 2024. Excluding California Wildfires, consolidated segment income was $21.7 million in 2025, compared to $17.8 million in 2024 .</li></ul><h4>Investment Results</h4><ul><li>Net Investment Income: This was $62.7 million in 2025, essentially unchanged from $62.4 million in 2024 .</li><li>Fixed Maturities Income: This remained flat at $59.5 million in both 2025 and 2024 .</li><li>Total Investment Return: This was $67.0 million (4.7%) in 2025, compared to $78.3 million (5.5%) in 2024 .</li><li>Net Realized Investment Gains (Losses): This was - $3.7 million in 2025, compared to gains of $0.5 million in 2024 .</li><li>Net Unrealized Investment Gains: These were $8.0 million in 2025, down from $15.4 million in 2024 .</li><li>Average Invested Assets: These were $1.43 billion for the year .</li></ul><h4>Premium Growth</h4><ul><li>Gross Written Premiums: Consolidated gross written premiums were $398.9 million in 2025, up from $389.8 million in 2024 .</li><li>Belmont Core Gross Written Premiums: These were $401.4 million in 2025, compared to $400.0 million in 2024. Excluding terminated products in 2024, Belmont Core gross written premiums grew 9.2% .<ul><li>Wholesale Commercial: Grew 3.0% to $256.0 million in 2025 .</li><li>Vacant Express: Grew 15.5% to $46.8 million in 2025 .</li><li>Assumed Written Premiums: Grew 76.7% to $44.9 million in 2025 .</li><li>Collectibles: Grew 8.4% to $17.2 million in 2025 .</li></ul></li><li>Net Written Premiums: These were $387.8 million in 2025, compared to $379.2 million in 2024 .</li><li>Net Earned Premiums: These were $388.8 million in 2025, up from $377.0 million in 2024 .</li><li>Commissions and Fee Income: Consolidated commissions and fee income was $2.3 million in 2025, compared to $1.3 million in 2024 .</li><li>Total Revenues: Consolidated total revenues were $450.1 million in 2025, up from $441.2 million in 2024 .</li></ul><h4>Capital Position and Book Value</h4><ul><li>Common Shareholders’ Equity: Increased to $702.6 million at December 31, 2025, from $685.1 million at December 31, 2024 .</li><li>Book Value Per Share: This was $48.96 at December 31, 2025, compared to $49.98 at December 31, 2024 .</li><li>Dividends Paid: The company returned $20.4 million to shareholders in 2025, maintaining its regular dividend of $1.40 per share .</li><li>Total Assets: Total assets were $1,720.8 million at December 31, 2025, compared to $1,731.3 million at December 31, 2024 .</li><li>Cash and Invested Assets, Net: These were $1,420.2 million at December 31, 2025, compared to $1,440.7 million at December 31, 2024 .</li><li>Unpaid Losses and Loss Adjustment Expenses: These were $750.2 million at December 31, 2025, decreasing from $800.4 million at December 31, 2024 .</li><li>Unearned Premiums: These were $182.7 million at December 31, 2025, compared to $183.4 million at December 31, 2024 .</li><li>AM Best Rating: AM Best affirmed Global Indemnity Group, LLC’s ‘A’ (Excellent) rating for its U.S. insurance subsidiaries in August 2025 .</li></ul><h4>Cash Flow</h4>The provided reference material does not contain specific information regarding operating cash flow or free cash flow .<h4>Outlook / Guidance</h4>The report does not contain explicit forward-looking statements or guidance regarding future financial performance or outlook .

Global Indemnity LLC | 8-K: FY2025 Revenue Beats Estimate at USD 450.1 M