HIGHBuilt-inRegulatory
89%
non-admitted (surplus lines) basis
“10-K Item 1: 'In 2025, excluding assumed reinsurance, Belmont Core wrote 89% of its business on a non-admitted basis and 11% on an admitted basis.'”
GBLI · Concentration risk · 10-K extracted
Global Indemnity Group (GBLI) concentration risks
Updated
The most significant concentration Global Indemnity Group discloses is non-admitted (surplus lines) basis at 89%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Global Indemnity Group’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 1 disclosed concentration
HIGH1
MEDIUM0
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-08-09Global Indemnity Group's disclosed concentration risk is structural and tied to how its business is regulated rather than to any specific customer or geography. In 2025, excluding assumed reinsurance, the company's Belmont Core unit wrote 89% of its business on a non-admitted, or surplus lines, basis, with the remaining 11% written on an admitted basis — a high-share, structural exposure. Because non-admitted business operates outside standard state rate and form regulation, this concentration reflects a deliberate underwriting model choice rather than dependency on a single counterparty, supplier, or market. With no other concentration figures disclosed in the filing, this regulatory-basis split is the single factor most capable of moving Global Indemnity's verdict on the concentration dimension, and its high-share weight means the business is not diversified away from the surplus-lines regulatory framework, which carries its own distinct risk and flexibility characteristics compared with admitted insurance.
For the engine’s reasoning on GBLI’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Insurance - Property & Casualty
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| ASIC | Ategrity Specialty Insurance Co | 2 | 1 | 1 | 4 |
| AIZ | Assurant, Inc. | 1 | 2 | 0 | 3 |
| ALL | Allstate Corporation (The) | 1 | 0 | 0 | 1 |
| GBLI● | Global Indemnity Group, LLC | 1 | 0 | 0 | 1 |
| AFG | American Financial Group, Inc. | 0 | 0 | 2 | 2 |
| ACIC | American Coastal Insurance Corp | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.