GEORGE TOWN, Cayman Islands, March 16, 2017 (GLOBE NEWSWIRE) — Global Indemnity Limited (NASDAQ:GBLI) (the “Company” or “Global Indemnity”) today announced the pricing of an offering of $120 million of its 7.875% Subordinated Notes due 2047 (the “2047 Notes”). The Company has granted the underwriters a 30-day option, expiring on April 15, 2017, to purchase up to an additional $18 million of the 2047 Notes from the Company on the same terms and conditions. The Company expects the offering to close on March 23, 2017, subject to customary closing conditions. The 2047 Notes are expected to trade on the NASDAQ Global Select Market under the symbol “GBLIL”. The Company intends to use the net proceeds from the offering for general corporate purposes, which may include the financing for acquisitions, repurchases of ordinary shares, repayment of indebtedness, and expansion of the net underwriting capacity of our insurance subsidiaries.

Morgan Stanley & Co. LLC, UBS Securities LLC and RBC Capital Markets, LLC are acting as joint book-running managers for the transaction.

This announcement does not constitute an offer to sell or a solicitation of an offer to buy these securities, nor will there be any offer or sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. The 2047 Notes may be offered only by means of a prospectus supplement and accompanying base prospectus. You may obtain a copy of the prospectus supplement and accompanying prospectus for free by visiting EDGAR on the SEC website at Alternatively, the underwriters may arrange to send you these documents if you request them by contacting Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, New York, NY 10014, or by email at; from UBS Securities LLC, 1285 Avenue of the Americas, New York, NY 10019, Attention: Prospectus Specialist, (888) 827-7275; or from RBC Capital Markets, LLC, 200 Vesey Street, New York, NY 10281, (866) 375-6829, or by email at

About Global Indemnity and its subsidiaries
Global Indemnity Limited (NASDAQ:GBLI), through its several direct and indirect wholly owned subsidiary insurance and reinsurance companies, 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. Global Indemnity Limited’s three primary segments are:

  • United States Based Commercial Lines Operations
  • United States Based Personal Lines Operations
  • Bermuda Based Reinsurance Operations

Forward Looking Information

Forward-looking statements contained in this press release are made under the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties that could cause actual results to differ materially from the expectations expressed in the forward-looking statements. Please see our periodic reports filed with the Securities and Exchange Commission for a discussion of the risks and uncertainties which may affect us and for a more detailed discussion of our cautionary note regarding forward-looking statements.  Global Indemnity undertakes no intent or obligation to publicly update or revise any of these forward looking statements, whether as a result of new information, future events or otherwise, except as required by law.

CONTACT: Contact:

Stephen W. Ries
Senior Corporate Counsel
(610) 668-3270
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