Insurance
Home›Insurance›Reinsurance›Assumed reinsurance lifts Global Indemnity Group premi…
Assumed reinsurance lifts Global Indemnity Group premiums in Q2 2026
Belmont Core gross written premiums rose 7% year on year to $117.3 million, as assumed reinsurance GWP jumped 79% to $21.5 million.
Global Indemnity Group reported that its Belmont Core gross written premiums increased 7% year on year to $117.3 million in the second quarter of 2026, supported by a sharp rise in assumed reinsurance.
According to Reinsurance News, assumed reinsurance GWP climbed 79% to $21.5 million from $12.0 million, more than offsetting a 35.7% decline in Specialty Products GWP to $7.8 million from $12.1 million. Meanwhile, Wholesale Commercial GWP rose 1.5% to $70.1 million, Vacant Express increased 5.6% to $13.1 million, and Collectibles grew 13.7% to $4.8 million.
For the quarter, Global Indemnity Group’s net income increased 8% to $11.1 million from $10.3 million. Underwriting income fell to $5.5 million from $5.8 million, and the combined ratio increased to 95.0% from 94.4%, reflecting a lower loss ratio of 53.8% versus 55.6% offset by a higher expense ratio of 41.2% versus 38.8%.
In the first half of 2026, Belmont Core GWP grew 3% to $213.7 million from $208.2 million, while assumed reinsurance GWP rose 42.5% to $32.7 million. Reinsurance News also said net investment income was $28.6 million, compared with $29.5 million, driven by increased allocation to U.S. Treasuries.