Global Indemnity Launches Reinsurance MGA with George Dragonetti

By Greg Peters • Friday, October 03 15:40 • Permanent Link

The press release from Global Indemnity Group, LLC (NYSE:GBLI) announced the launch of a reinsurance managing general agency (MGA) by its subsidiary, Penn-America Underwriters, LLC (PAU), in partnership with reinsurance executive George Dragonetti. This move is part of the company's initiative to expand its capabilities in specialized insurance and reinsurance solutions.

George Dragonetti, with over three decades of reinsurance expertise, will lead the new unit as its president. Prior to this role, Dragonetti served as the head of property at Emerald Bay Risk Solutions and held leadership positions at Nav Re and RLI Re.

PAU, a division of GBLI, focuses on underwriting, growth, and distribution of insurance and reinsurance products, technology solutions, and claims services. The company's chairman, Saul Fox, emphasized that this partnership with Dragonetti marks a strategic advancement for the company's multi-prong manifest initiative, reflecting GBLI's commitment to expanding its capabilities in both specialized insurance and reinsurance solutions.

The press release did not provide specific financial metrics or comparisons with the previous period. The market has reacted to these announcements by moving the company's shares 0.12% to a price of $29.05. For the full picture, make sure to review Global Indemnity's 8-K report.

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