What is Global Indemnity Group LLC Claims Ratio %?
Claims Ratio % is the percentage of claims costs incurred in relation to the premiums earned.
Global Indemnity Group LLC's Claims Ratio % for the quarter that ended in Sep. 2023 was 58.30%
, which is lower than
60.50% for the pervious quarter ended in Jun. 2023.
Global Indemnity Group LLC's Claims Ratio % for the annual that ended in Dec. 2023 was 59.60%
, which is lower than
61.10% for the pervious year ended in Dec. 2022.
The historical rank and industry rank for Global Indemnity Group LLC's Claims Ratio % or its related term are showing as below:
GBLI's Claims Ratio % is not ranked *
in the Insurance industry.
Industry Median: * Ranked among companies with meaningful Claims Ratio % only.
Global Indemnity Group LLC Claims Ratio % Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Competitive Comparison of Global Indemnity Group LLC's Claims Ratio %
For the Insurance - Property & Casualty subindustry, Global Indemnity Group LLC's Claims Ratio %, along with its competitors' market caps and Claims Ratio % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Global Indemnity Group LLC (NYSE:GBLI) Claims Ratio % Calculation
Claims Ratio % is calculated as
Claims Ratio %
=
Total Claims
/
Total Premiums Earned
*
100%
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Global Indemnity Group LLC (NYSE:GBLI) Claims Ratio % Explanation
Claims Ratio % the percentage of claims costs incurred in relation to the premiums earned during the period. It is the equivalent of gross profit margin for an insurance company.
It's important to note that insurance is the business of managing risks and, to do that well, the insurer needs a thorough understanding of the incurred claims ratio. If the value is higher than expected or above established norms, then further investigation is required to figure out why that is (eg: fraud). If it is lower than expected, it could indicate irrelevant products or difficulties in claiming, possibly affecting customer satisfaction.
Global Indemnity Group LLC Claims Ratio % Related Terms
Thank you for viewing the detailed overview of Global Indemnity Group LLC's Claims Ratio % provided by GuruFocus.com. Please click on the following links to see related term pages.
Global Indemnity Group LLC (Global Indemnity Group LLC) Business Description
Global Indemnity Group LLC provides both admitted and non-admitted specialty property and casualty insurance coverages and individual policyholder coverages in the United States, as well as reinsurance worldwide. The company's three primary segments are Commercial Specialty, Reinsurance operations, and Exited Lines. The majority of its revenue is from the Commercial Specialty segment. Geographically, the majority is from California.
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