Penn-America 2023 AY loss ratio ‘short of target’: Global Indemnity CEO Brown
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Penn-America 2023 AY loss ratio ‘short of target’: Global Indemnity CEO Brown

Losses in the NY habitational book drove the shortfall.

By Shelby Rosenberg
March 13, 2024
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GBLI Global indemity logo 2 boardroom.jpg

Pennsylvania-based carrier Global Indemnity’s loss ratio last year was higher than expected, driven by reserve strengthening in 2019-2022 casualty business and higher losses in the New York habitational book, CEO Joseph Brown said.

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