Global Indemnity will redomesticate its business to the US from its current bases in the Cayman Islands and Bermuda.
Global Indemnity is based in the Cayman Islands but its subsidiary, Global Indemnity Reinsurance, is based in Bermuda.
The company's board of directors has approved the redomestication plan and the filing of a preliminary proxy statement with the US Securities and Exchange Commission. If shareholders approve the plan, the business will continue as Global Indemnity Group, a Delaware limited liability company, including the Bermuda subsidiary.
Pursuant to the plan of redomestication, the company’s class A ordinary shares will be converted on a one-for-one basis to the class A common shares of the new parent company, Global Indemnity Group.
Following all approvals, the company anticipates the redomestication to close in Q3 2020.
Global Indemnity, Cayman, Delaware