Start Time: 11:00 January 1, 0000 11:32 AM ET
Global Indemnity Group, LLC (NYSE:GBLI)
Q1 2024 Earnings Conference Call
May 08, 2024, 11:00 AM ET
Company Participants
Jay Brown - CEO
Brian Riley - CFO
Steve Ries - Head, IR
Conference Call Participants
Tom Kerr - Zacks Investment Research
Ross Haberman - RLH Investments
Operator
Thank you for standing by. My name is Kathleen, and I will be your conference operator today. At this time, I would like to welcome everyone to the Global Indemnity Group First Quarter 2024 Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions]. Thank you.
I would now like to turn the call over to Steve Ries, Head of Investor Relations. Please go ahead.
Steve Ries
Thank you, Kathleen. As a reminder, today's conference call is being recorded, and some remarks may contain forward-looking statements. Some of the forward-looking statements can be identified by the use of forward-looking words, including without limitation, beliefs, expectations or estimates.
We caution you that such forward-looking statements should not be regarded as a representation by us that the future plans, estimates or expectations contemplated by us will, in fact, be achieved. Please refer to our annual report on Form 10-K and our other filings with the SEC for descriptions of the business environment in which we operate and important factors that may materially affect our results. Global Indemnity Group LLC is not under any obligation and expressly disclaims any such obligation to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
It is now my pleasure to turn the call over to Mr. Jay Brown, Chief Executive Officer of Global Indemnity.
Jay Brown
Thank you, Steve. Good morning, and thank you all for joining us for our first quarter call. I will first provide a few overview comments and then our new Chief Financial Officer, Brian Riley, will review the financial highlights for our insurance operations. What a difference a year makes?
12 months ago, we were in the midst of a significant restructuring of our insurance activities. Our then current results were a mix of ongoing and exited businesses, making it difficult to gauge performance. To assist investors on how to assess our progress, we have reaffirmed a simple set of objectives, consisting of 3 long-term metrics as guidelines for measuring the performance of our ongoing insurance operations, revenue growth, underwriting performance and expense management. The metric goal for revenue growth was to achieve a long-term annual average for premium written of plus 10%.