Global Indemnity Group, LLC (NYSE:GBLI) Q3 2024 Earnings Conference Call November 7, 2024 11:00 AM ET

Company Participants

Steve Reis - Head of Investor Relations
Jay Brown - Chief Executive Officer
Brian Riley - Chief Financial Officer

Conference Call Participants

Ross Haberman - RLH Investments

Operator

Ladies and gentlemen, thank you for standing by. And welcome to the Global Indemnity Group Q3 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 will now turn today's call over to Steve Reis, Head of Investor Relations. Please go ahead sir.

Steve Reis

Thank you, Sunita. 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 representations 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's now my pleasure to turn the call over to Mr. Jay Brown, Chief Executive Officer of GBLI.

Jay Brown

Thank you, Steve. Good morning, and thank you all for joining us for the GBLI nine-months update on our 2024 financial and operational results. Consistent with our past call, I will first provide a few overview comments and our Chief Financial Officer, Brian Riley, will review the 2024 financial highlights for both our insurance operations and holding company.

Let's start with the big picture. Through nine months our team has continued to achieve results that are both consistent with our plan for 2024 and our building momentum to hit the long-term metrics, I had established great value for our shareholders.

I will again remind you that our overall goals remain, first, growing our insurance business at a compound annual growth rate of at least 10%; second, achieve a combined ratio in the low 90s; and third, manage our insurance expenses to a competitive level of 36% to 37%.