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Companies Global Indemnity Group, LLC

Global Indemnity (GBLI): executive pay, fiscal 2025

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CEO total pay$4,001,790CEO Joseph Brown · source
Say-on-pay support98.89%Latest vote · source
CEO vs. named peers33rd pct.Of 17 peer CEOs
CEO pay ratio36.9:1To the median employee · source

CEO pay, last three years

  • $3,016,678FY2023
  • $4,120,179FY2024
  • $4,001,790FY2025

CEO total pay was $4,001,790 in fiscal 2025, down from $4,120,179 in fiscal 2024.

FY2025: salary $1,000,000 · bonus $2,500,000 · option awards $494,500

Executives and directors

Frequently asked questions

Who was the highest-paid executive at Global Indemnity Group, LLC in fiscal 2025?
As disclosed, Joseph Brown (Chief Executive Officer) was the highest-paid executive at Global Indemnity Group, LLC in fiscal 2025, with total compensation of $4,001,790.
How does Global Indemnity Group, LLC's chief executive pay compare to its disclosed peer group?
As disclosed, Joseph Brown's total compensation ranked at the 33rd percentile of Global Indemnity Group, LLC's disclosed peer group.
What is Global Indemnity Group, LLC's CEO-to-median employee pay ratio?
As disclosed, Global Indemnity Group, LLC's CEO-to-median employee pay ratio was 36.9:1.
How did shareholders vote on Global Indemnity Group, LLC's executive compensation?
As disclosed, 98.89% of shareholders supported Global Indemnity Group, LLC's executive compensation in the latest say-on-pay vote.
How much does Global Indemnity Group, LLC spend in total on board compensation for fiscal 2025?
As disclosed, Global Indemnity Group, LLC reported total board compensation of $3,400,657 for fiscal 2025.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

Full detail

Every table from the filing. Open any section.

Summary compensation table
Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Joseph Brown$1,000,000$2,500,000—$494,500$0$0$7,290$4,001,790
Chief Executive Officer
Brian Riley450,000124,49500170,000021,288765,783
Chief Financial Officer

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Joseph Brown$4,001,790$4,120,179$3,016,678↓ −118,389
Brian Riley765,7831,015,489—↓ −249,706

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

Incentive-plan design — the Compensation Discussion & Analysis

Our primary goals in structuring compensation opportunities for our named executive officers are: (1) fostering achievement of corporate performance objectives; (2) recognizing executives contributions to corporate success; and (3) attracting and retaining quality professionals.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultant—
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingTrue
Equity grants and outstanding awards

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Joseph BrownOPTION2025-01-02——50,000—$494,500

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Joseph Brown$0$0$494,5000.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Brian RileyOption33,33430—
Joseph BrownOption50,00036.25—
Director compensation
DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Saul A. FoxNot independent · Board Chair · Executive (Chair) · Investment · Acquisition (Chair)$0$812,858$0$0—$812,858
Thomas M. McGeehanIndependent · Nomination, Compensation & Governance (Chair) · Investment (Chair) · Enterprise Risk Management · Executive0432,32000253,902686,222
Seth J. GerschIndependent · Audit (Chair) · Conflicts (Chair) · Executive · Investment0634,94800—634,948
Fred E. KarlinskyIndependent · Audit · Nomination, Compensation & Governance · Acquisition0351,39400206,355557,749
Bruce R. LedermanIndependent · Audit · Conflicts · Enterprise Risk Management (Chair) · Newly elected0362,9000082,397445,297
Jason C. MurgioIndependent · Nomination, Compensation & Governance · Acquisition · Partial-year service · Newly elected0166,0490097,534263,583
Joseph W. BrownEmployee director · Partial-year service000—00
Fred R. DonnerNot independent · Departed during FY000000
Gary C. TolmanNot independent · Departed during FY000000

Board fee structure and ownership guideline

Annual cash retainer$50,000
Annual equity retainer—
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)150,000 / 75,000 / 75,000
Stock ownership guideline—

Total cost of the board

ComponentFY2025
Cash retainers and fees$0
Equity awards (grant-date value)$2,760,469
All other compensation$640,188
Total cost of the board$3,400,657

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

Peer group, and who names Global Indemnity as a peer

Companies that benchmark against GBLI

13 companies name GBLI as a compensation peer

The list of companies that name GBLI as a peer is temporarily unavailable — recheck shortly.

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

Peer reciprocity

The companies Global Indemnity Group, LLC names as compensation peers that name it back in their own disclosed peer groups.

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Horace Mann Educators Corporation2025Marita Zuraitis$1,040,000$3,328,000$832,000$3,139,500$8,453,113
2HCI Group, Inc.2025Paresh Patel950,0000008,236,000
3Tiptree, Inc.2025Michael Barnes1,200,0001,317,81805,651,6208,215,284
4Root, Inc.2025Alexander Timm750,0005,499,87501,687,5008,163,348
5RLI Corp.2025Craig Kliethermes677,5960831,8056,075,3197,691,732
6Kinsale Capital Group, Inc.2025Michael Kehoe1,250,0002,749,589007,423,891
7ProAssurance Corporation2024Edward L. Rand, Jr.1,029,2312,593,35502,496,0006,226,834
8Heritage Insurance Holdings, Inc.2025Ernie Garateix875,5002,757,82401,663,4505,341,897
9Universal Insurance Holdings, Inc.2025Stephen Donaghy1,000,0001,750,01402,406,8445,240,829
10Safety Insurance Group, Inc.2025George Murphy850,0001,100,00001,476,8804,187,838
11Global Indemnity Group, LLC2025Joseph Brown1,000,000—494,50004,001,790
12United Fire Group, Inc.2025Kevin Leidwinger821,0001,656,00801,350,9343,896,774
13Employers Holdings, Inc.2025Katherine Antonello881,0422,012,6640242,0003,261,998
14Amerisafe, Inc.2025G. Janelle Frost803,146896,5000622,0902,369,553
15Donegal Group, Inc.2025Kevin Burke795,0007,735001,742,994
16Ategrity Specialty Insurance Co.2025Justin Cohen69,521000369,521
—United Insurance Holdings Corp.——————not in coverage universe

Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Global Indemnity Group, LLCnot disclosednot disclosedNonot disclosed
Amerisafe, Inc.95%PSU 70 · RSU 30NoAON
Ategrity Specialty Insurance Co.not disclosedOption 100not disclosednot disclosed
Donegal Group, Inc.not disclosedRSU 100NoWillis Towers Watson
Employers Holdings, Inc.25%PSU 65 · RSU 35NoCAP
HCI Group, Inc.not disclosedRSU 100not disclosednot disclosed
Heritage Insurance Holdings, Inc.158%PSU 62 · RSU 38Nonot disclosed
Horace Mann Educators Corporationnot disclosedPSU 60 · Options 20 · RSU 20Yes — TSRCompensation Advisory Partners LLC (CAP)
Kinsale Capital Group, Inc.not disclosedRSU 100not disclosedSemler Brossy
ProAssurance Corporation200%PSU 50 · RSU 50NoF.W. Cook
RLI Corp.not disclosedOption 100not disclosedLockton Financial Advisors, LLC
Root, Inc.150%PSU 100NoCompensia, Inc.
Safety Insurance Group, Inc.139%PRSU 55 · RSU 45NoPay Governance
Tiptree, Inc.not disclosednot disclosedNoCAP
United Fire Group, Inc.not disclosedPSU 50 · RSU 50NoMercer LLC
United Insurance Holdings Corp.not disclosedPSU 50 · Option 25 · RSU 25not disclosedPay Governance LLC
Universal Insurance Holdings, Inc.160.5%PSU 50 · RSU 50Nonot disclosed

Read from each company’s Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company’s filing does not state the item.

Say-on-pay history and pay ratio
Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-1041,963,705469,37996,83198.89%Passed
20232023-06-1442,067,5681,118,4124,96797.41%Passed
20172017-06-1451,088,990330,9281,84799.36%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year’s compensation.

Say-on-pay — history, company’s computation

Meeting yearMeeting dateApproval — company’s computation
20262026-06-1098.89%a
20232023-06-1497.41%b
20172017-06-1499.36%c

a. Voting standard not stated in the filing.

b. Voting standard not stated in the filing.

c. Voting standard not stated in the filing.

Approval percentages are the company’s own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

CEO pay ratio

Ratio (CEO : median employee)36.9 : 1
CEO total compensation$4,001,790
Median employee compensation$108,496
Insider trades since the proxy

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Seth J. GerschDirector2026-06-30A6,103$26$158,739CommonForm 4 ↗
Fred E. KarlinskyDirector2026-06-30A3,4222689,006CommonForm 4 ↗
Michele ColucciDirector2026-06-30A1,0062626,166CommonForm 4 ↗
Saul A. FoxDirector2026-06-30A9,15426238,096Common, indirectForm 4 ↗
Thomas M. McGeehanDirector2026-06-30A4,56626118,762CommonForm 4 ↗
Jason C. MurgioDirector2026-06-30A2,8832674,987CommonForm 4 ↗
Bruce R. LedermanDirector2026-06-30A4,35326113,222CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

Sources (48 citations)

Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.

  • Section 01, Joseph Brown. DEF 14A, filed 2026-04-29. Section “SUMMARY COMPENSATION TABLE” · page 27. As printed: 4,001,790. View filing ↗
  • Section 01, Brian Riley. DEF 14A, filed 2026-04-29. Section “SUMMARY COMPENSATION TABLE” · page 27. As printed: 765,783. View filing ↗
  • Section 03, Joseph Brown OPTION. DEF 14A, filed 2026-04-29. Section “GRANTS OF PLAN-BASED AWARDS” · grants of plan-based awards table. View filing ↗
  • Section 07, pay ratio. DEF 14A, filed 2026-04-29. Section “CEO Pay Ratio”. As printed: 36.9 : 1. View filing ↗
  • Section 08, Saul A. Fox. DEF 14A, filed 2026-04-29. Section “Director Compensation”. As printed: 812,858. View filing ↗
  • Section 08, Thomas M. McGeehan. DEF 14A, filed 2026-04-29. Section “Director Compensation”. As printed: 686,222. View filing ↗
  • Section 08, Seth J. Gersch. DEF 14A, filed 2026-04-29. Section “Director Compensation”. As printed: 634,948. View filing ↗
  • Section 08, Fred E. Karlinsky. DEF 14A, filed 2026-04-29. Section “Director Compensation”. As printed: 557,749. View filing ↗
  • Section 08, Bruce R. Lederman. DEF 14A, filed 2026-04-29. Section “Director Compensation”. As printed: 445,297. View filing ↗
  • Section 08, Jason C. Murgio. DEF 14A, filed 2026-04-29. Section “Director Compensation”. As printed: 263,583. View filing ↗
  • Section 08, Joseph W. Brown. DEF 14A, filed 2026-04-29. Section “Director Compensation”. As printed: 0. View filing ↗
  • Section 08, Fred R. Donner. DEF 14A, filed 2026-04-29. Section “Director Compensation”. As printed: 0. View filing ↗
  • Section 08, Gary C. Tolman. DEF 14A, filed 2026-04-29. Section “Director Compensation”. As printed: 0. View filing ↗
  • Section 02, Seth J. Gersch 2026-06-30. Form 4, filed 2026-07-02. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Fred E. Karlinsky 2026-06-30. Form 4, filed 2026-07-02. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Michele Colucci 2026-06-30. Form 4, filed 2026-07-02. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Saul A. Fox 2026-06-30. Form 4, filed 2026-07-02. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Thomas M. McGeehan 2026-06-30. Form 4, filed 2026-07-02. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Jason C. Murgio 2026-06-30. Form 4, filed 2026-07-02. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 02, Bruce R. Lederman 2026-06-30. Form 4, filed 2026-07-02. Insider equity transaction reported since the proxy statement. View filing ↗
  • Section 06, 2026 vote. Form 8-K, filed 2026-06-16. Item 5.07 · say-on-pay result. As reported: 98.89% (votes for as printed: 41,963,705). View filing ↗
  • Section 06, 2023 vote. Form 8-K, filed 2023-06-14. Item 5.07 · say-on-pay result. As reported: 97.41% (votes for as printed: 42,067,568). View filing ↗
  • Section 06, 2017 vote. Form 8-K, filed 2017-06-15. Item 5.07 · say-on-pay result. As reported: 99.36%. View filing ↗
  • Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
  • Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
  • Section 09b board cost (computed). Computed. Cash 0 + equity 2,760,469 + all other 640,188 = 3,400,657, summed across the director compensation table rows.
  • Horace Mann Educators Corporation, Section 10b CEO total. DEF 14A, filed 2026-04-06. CEO total compensation as printed in Horace Mann Educators Corporation's own proxy. As printed: 8,453,113. View filing ↗
  • HCI Group, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-29. CEO total compensation as printed in HCI Group, Inc.'s own proxy. As printed: 8,236,000. View filing ↗
  • Tiptree, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-16. CEO total compensation as printed in Tiptree, Inc.'s own proxy. As printed: 8,215,284. View filing ↗
  • Root, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-24. CEO total compensation as printed in Root, Inc.'s own proxy. As printed: 8,163,348. View filing ↗
  • RLI Corp., Section 10b CEO total. DEF 14A, filed 2026-03-26. CEO total compensation as printed in RLI Corp.'s own proxy. As printed: 7,691,732. View filing ↗
  • Kinsale Capital Group, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-09. CEO total compensation as printed in Kinsale Capital Group, Inc.'s own proxy. As printed: 7,423,891. View filing ↗
  • ProAssurance Corporation, Section 10b CEO total. DEF 14A, filed 2025-04-11. CEO total compensation as printed in ProAssurance Corporation's own proxy. As printed: 6,226,834. View filing ↗
  • Heritage Insurance Holdings, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-30. CEO total compensation as printed in Heritage Insurance Holdings, Inc.'s own proxy. As printed: 5,341,897. View filing ↗
  • Universal Insurance Holdings, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-24. CEO total compensation as printed in Universal Insurance Holdings, Inc.'s own proxy. As printed: 5,240,829. View filing ↗
  • Safety Insurance Group, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-31. CEO total compensation as printed in Safety Insurance Group, Inc.'s own proxy. As printed: 4,187,838. View filing ↗
  • Global Indemnity Group, LLC (subject), Section 10b CEO total. DEF 14A, filed 2026-04-29. CEO total compensation as printed in Global Indemnity Group, LLC's own proxy. As printed: 4,001,790. View filing ↗
  • United Fire Group, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-07. CEO total compensation as printed in United Fire Group, Inc.'s own proxy. As printed: 3,896,774. View filing ↗
  • Employers Holdings, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-16. CEO total compensation as printed in Employers Holdings, Inc.'s own proxy. As printed: 3,261,998. View filing ↗
  • Amerisafe, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-24. CEO total compensation as printed in Amerisafe, Inc.'s own proxy. As printed: 2,369,553. View filing ↗
  • Donegal Group, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-16. CEO total compensation as printed in Donegal Group, Inc.'s own proxy. As printed: 1,742,994. View filing ↗
  • Ategrity Specialty Insurance Co., Section 10b CEO total. DEF 14A, filed 2026-04-30. CEO total compensation as printed in Ategrity Specialty Insurance Co.'s own proxy. As printed: 369,521. View filing ↗
  • Section 10a, ProAssurance Corporation reciprocity. DEF 14A. ProAssurance Corporation names Global Indemnity Group, LLC in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Heritage Insurance Holdings, Inc. reciprocity. DEF 14A. Heritage Insurance Holdings, Inc. names Global Indemnity Group, LLC in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Employers Holdings, Inc. reciprocity. DEF 14A. Employers Holdings, Inc. names Global Indemnity Group, LLC in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, RLI Corp. reciprocity. DEF 14A. RLI Corp. names Global Indemnity Group, LLC in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, United Fire Group, Inc. reciprocity. DEF 14A. United Fire Group, Inc. names Global Indemnity Group, LLC in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Amerisafe, Inc. reciprocity. DEF 14A. Amerisafe, Inc. names Global Indemnity Group, LLC in its own disclosed peer group (read from its most recent proxy). View filing ↗
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