Activist urges Global Indemnity to return $250mn to shareholders
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Activist urges Global Indemnity to return $250mn to shareholders

Bernard Goyder
May 20, 2021
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An activist investor is calling on Global Indemnity to return $250mn of excess capital to shareholders through a special dividend or stock buybacks.

In an open letter to the Global Indemnity chairman Saul Fox dated Wednesday, Kenan Lucas, who runs the Harbert Discovery Fund, accused him putting the interests of company insiders ahead of shareholders.

Fox’s

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Bernard Goyder
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