Companies Global Indemnity Group, LLC
Global Indemnity (GBLI): executive pay, fiscal 2025
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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
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 officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Joseph Brown | $1,000,000 | $2,500,000 | — | $494,500 | $0 | $0 | $7,290 | $4,001,790 |
| Chief Executive Officer | ||||||||
| Brian Riley | 450,000 | 124,495 | 0 | 0 | 170,000 | 0 | 21,288 | 765,783 |
| 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 officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Joseph Brown | $4,001,790 | $4,120,179 | $3,016,678 | ↓ −118,389 |
| Brian Riley | 765,783 | 1,015,489 | — | ↓ −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 policy | true |
| Anti-hedging | true |
| Anti-pledging | True |
Equity grants and outstanding awards
Grants of plan-based awards — fiscal year 2025
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Joseph Brown | OPTION | 2025-01-02 | — | — | 50,000 | — | $494,500 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Joseph Brown | $0 | $0 | $494,500 | 0.0% |
% 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
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Brian Riley | Option | 33,334 | 30 | — |
| Joseph Brown | Option | 50,000 | 36.25 | — |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| 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 · Executive | 0 | 432,320 | 0 | 0 | 253,902 | 686,222 |
| Seth J. GerschIndependent · Audit (Chair) · Conflicts (Chair) · Executive · Investment | 0 | 634,948 | 0 | 0 | — | 634,948 |
| Fred E. KarlinskyIndependent · Audit · Nomination, Compensation & Governance · Acquisition | 0 | 351,394 | 0 | 0 | 206,355 | 557,749 |
| Bruce R. LedermanIndependent · Audit · Conflicts · Enterprise Risk Management (Chair) · Newly elected | 0 | 362,900 | 0 | 0 | 82,397 | 445,297 |
| Jason C. MurgioIndependent · Nomination, Compensation & Governance · Acquisition · Partial-year service · Newly elected | 0 | 166,049 | 0 | 0 | 97,534 | 263,583 |
| Joseph W. BrownEmployee director · Partial-year service | 0 | 0 | 0 | — | 0 | 0 |
| Fred R. DonnerNot independent · Departed during FY | 0 | 0 | 0 | 0 | 0 | 0 |
| Gary C. TolmanNot independent · Departed during FY | 0 | 0 | 0 | 0 | 0 | 0 |
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
| Component | FY2025 |
|---|---|
| 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.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Horace Mann Educators Corporation | 2025 | Marita Zuraitis | $1,040,000 | $3,328,000 | $832,000 | $3,139,500 | $8,453,113 |
| 2 | HCI Group, Inc. | 2025 | Paresh Patel | 950,000 | 0 | 0 | 0 | 8,236,000 |
| 3 | Tiptree, Inc. | 2025 | Michael Barnes | 1,200,000 | 1,317,818 | 0 | 5,651,620 | 8,215,284 |
| 4 | Root, Inc. | 2025 | Alexander Timm | 750,000 | 5,499,875 | 0 | 1,687,500 | 8,163,348 |
| 5 | RLI Corp. | 2025 | Craig Kliethermes | 677,596 | 0 | 831,805 | 6,075,319 | 7,691,732 |
| 6 | Kinsale Capital Group, Inc. | 2025 | Michael Kehoe | 1,250,000 | 2,749,589 | 0 | 0 | 7,423,891 |
| 7 | ProAssurance Corporation | 2024 | Edward L. Rand, Jr. | 1,029,231 | 2,593,355 | 0 | 2,496,000 | 6,226,834 |
| 8 | Heritage Insurance Holdings, Inc. | 2025 | Ernie Garateix | 875,500 | 2,757,824 | 0 | 1,663,450 | 5,341,897 |
| 9 | Universal Insurance Holdings, Inc. | 2025 | Stephen Donaghy | 1,000,000 | 1,750,014 | 0 | 2,406,844 | 5,240,829 |
| 10 | Safety Insurance Group, Inc. | 2025 | George Murphy | 850,000 | 1,100,000 | 0 | 1,476,880 | 4,187,838 |
| 11 | Global Indemnity Group, LLC | 2025 | Joseph Brown | 1,000,000 | — | 494,500 | 0 | 4,001,790 |
| 12 | United Fire Group, Inc. | 2025 | Kevin Leidwinger | 821,000 | 1,656,008 | 0 | 1,350,934 | 3,896,774 |
| 13 | Employers Holdings, Inc. | 2025 | Katherine Antonello | 881,042 | 2,012,664 | 0 | 242,000 | 3,261,998 |
| 14 | Amerisafe, Inc. | 2025 | G. Janelle Frost | 803,146 | 896,500 | 0 | 622,090 | 2,369,553 |
| 15 | Donegal Group, Inc. | 2025 | Kevin Burke | 795,000 | 7,735 | 0 | 0 | 1,742,994 |
| 16 | Ategrity Specialty Insurance Co. | 2025 | Justin Cohen | 69,521 | 0 | 0 | 0 | 369,521 |
| — | 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
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Global Indemnity Group, LLC | not disclosed | not disclosed | No | not disclosed |
| Amerisafe, Inc. | 95% | PSU 70 · RSU 30 | No | AON |
| Ategrity Specialty Insurance Co. | not disclosed | Option 100 | not disclosed | not disclosed |
| Donegal Group, Inc. | not disclosed | RSU 100 | No | Willis Towers Watson |
| Employers Holdings, Inc. | 25% | PSU 65 · RSU 35 | No | CAP |
| HCI Group, Inc. | not disclosed | RSU 100 | not disclosed | not disclosed |
| Heritage Insurance Holdings, Inc. | 158% | PSU 62 · RSU 38 | No | not disclosed |
| Horace Mann Educators Corporation | not disclosed | PSU 60 · Options 20 · RSU 20 | Yes — TSR | Compensation Advisory Partners LLC (CAP) |
| Kinsale Capital Group, Inc. | not disclosed | RSU 100 | not disclosed | Semler Brossy |
| ProAssurance Corporation | 200% | PSU 50 · RSU 50 | No | F.W. Cook |
| RLI Corp. | not disclosed | Option 100 | not disclosed | Lockton Financial Advisors, LLC |
| Root, Inc. | 150% | PSU 100 | No | Compensia, Inc. |
| Safety Insurance Group, Inc. | 139% | PRSU 55 · RSU 45 | No | Pay Governance |
| Tiptree, Inc. | not disclosed | not disclosed | No | CAP |
| United Fire Group, Inc. | not disclosed | PSU 50 · RSU 50 | No | Mercer LLC |
| United Insurance Holdings Corp. | not disclosed | PSU 50 · Option 25 · RSU 25 | not disclosed | Pay Governance LLC |
| Universal Insurance Holdings, Inc. | 160.5% | PSU 50 · RSU 50 | No | not 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 year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-06-10 | 41,963,705 | 469,379 | 96,831 | 98.89% | Passed |
| 2023 | 2023-06-14 | 42,067,568 | 1,118,412 | 4,967 | 97.41% | Passed |
| 2017 | 2017-06-14 | 51,088,990 | 330,928 | 1,847 | 99.36% | 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 year | Meeting date | Approval — company’s computation |
|---|---|---|
| 2026 | 2026-06-10 | 98.89%a |
| 2023 | 2023-06-14 | 97.41%b |
| 2017 | 2017-06-14 | 99.36%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.
| Insider | Role | Transaction date | Code | Shares | Price | Value | Security | Source |
|---|---|---|---|---|---|---|---|---|
| Seth J. Gersch | Director | 2026-06-30 | A | 6,103 | $26 | $158,739 | Common | Form 4 ↗ |
| Fred E. Karlinsky | Director | 2026-06-30 | A | 3,422 | 26 | 89,006 | Common | Form 4 ↗ |
| Michele Colucci | Director | 2026-06-30 | A | 1,006 | 26 | 26,166 | Common | Form 4 ↗ |
| Saul A. Fox | Director | 2026-06-30 | A | 9,154 | 26 | 238,096 | Common, indirect | Form 4 ↗ |
| Thomas M. McGeehan | Director | 2026-06-30 | A | 4,566 | 26 | 118,762 | Common | Form 4 ↗ |
| Jason C. Murgio | Director | 2026-06-30 | A | 2,883 | 26 | 74,987 | Common | Form 4 ↗ |
| Bruce R. Lederman | Director | 2026-06-30 | A | 4,353 | 26 | 113,222 | Common | Form 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 ↗