Activist says $250mn surplus capital ‘dragging down’ Global Indemnity returns
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Activist says $250mn surplus capital ‘dragging down’ Global Indemnity returns

Global Indemnity Group boardroom.jpg

Activist investor Harbert Discovery Fund has said a $250mn capital excess at Saul Fox-led Global Indemnity is “dragging down” the overall returns of the business, as it set out the questions it expects the carrier to answer at an upcoming investor day.

The investor said in an open letter to Saul Fox that Global Indemnity should be using excess capital to “nimbly and aggressively drive profitable growth”, but that the company was failing to deliver.


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