Global Indemnity Group, LLC (NYSE: GBLI) (“GBLI”), announced today that its subsidiary Penn-America Underwriters, LLC (“PAU”) has completed the acquisition of Sayata, an AI-enabled digital distribution marketplace and agency operations for commercial insurance. The acquisition complements GBLI’s recent strategic reorganization of its PAU business to focus on agency and insurance services. This acquisition will enable PAU to accelerate its roadmap by expanding distribution, product portfolio, and technology capabilities.
Praveen K. Reddy, President and CEO of PAU, remarked, “The acquisition of Sayata directly supports our strategy to deliver faster, smarter distribution solutions for specialty insurance and new products. We are excited to welcome the Sayata team, and to invest and grow the business.”
“We are thrilled to welcome Sayata to the GBLI family,” said Saul Fox, Chairman of GBLI. “Sayata’s innovative technology and strong industry partnerships align perfectly with our vision under Project Manifest. Together, we will expand our digital capabilities, deepen relationships with customers, and accelerate growth.”
“Our focus for years has been delivering a fantastic experience for our customers and partners,” said Asaf Lifshitz, co-founder and CEO of Sayata. “We see this partnership as a way to expand the reach of Sayata distribution and product portfolio, while continuing to deliver best-in-the-industry economics for our customers.”
About Global Indemnity Group, LLC and its subsidiaries
Global Indemnity Group, LLC (NYSE:GBLI) is a publicly listed holding company for property and casualty insurance-related businesses.
Global Indemnity holds controlling interests in:
- PAU consists of (i) three agencies: Penn-America Insurance Services, LLC, J.H. Ferguson and Associates, LLC, which includes the Vacant Express division, and Collectibles Insurance Services, LLC that source, underwrite, and service policies and (ii) three strategic insurance product and service businesses: Sayata, a marketplace for small commercial insurance, Liberty Insurance Adjustment Agency, Inc., a claims adjustment and claims service business, and Kaleidoscope Insurance Technologies, Inc., a proprietary insurance software and services provider.
- Belmont Holdings GX, Inc. includes five state-regulated insurance carriers: Penn-Patriot Insurance Company, Diamond State Insurance Company, Penn-Star Insurance Company, Penn-America Insurance Company, and United National Insurance Company, each of which are rated “A” (Excellent) by AM Best.
