Global Indemnity Group, LLC announced the successful completion of 'Project Manifest,' an extensive reorganization of its business, effective January 1, 2025. This strategic initiative aims to position the company for enhanced operational efficiency, increased statutory capital, and improved capital management through the de-stacking of its insurance companies. The reorganization is a foundational step in GBLI's long-term growth strategy.
As part of Project Manifest, the company has restructured its Penn-America Underwriters, LLC divisions, including Wholesale Commercial, Vacant Express, Collectibles, and Specialty Products, into separate and distinct businesses. This move is intended to improve branding, attract talent, and expand relationships with distribution partners. Fox Paine & Company, LLC served as Global Indemnity’s financial advisor for this reorganization.
Furthermore, the company established independent technology and claims services businesses: Kaleidoscope Insurance Technologies, Inc. and Liberty Insurance Adjustment Agency, Inc. These new entities will support existing insurance operations and are designed to eventually offer services to other industry participants, signaling a broader strategic ambition to leverage technology and specialized services.
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