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Shareholders' Equity | 3 Months Ended
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Mar. 31, 2024
Equity [Abstract] |
Shareholders' Equity | 8. Shareholders’ Equity Repurchases of the Company's class A common shares On October 21, 2022, Global Indemnity Group, LLC announced it commenced a share repurchase program beginning in the fourth quarter of 2022. Global Indemnity Group, LLC's Board of Directors has authorized share repurchases of up to $135 million in aggregate under this program that expires on December 31, 2027. The timing and actual number of shares repurchased, if any, will depend on a variety of factors, including price, general business and market conditions, and alternative investment opportunities. As of March 31, 2024, the Company’s remaining authorization to repurchase shares is $101.0 million. In addition, Global Indemnity Group, LLC allows employees to surrender class A common shares as payment for the tax liability incurred upon the vesting of restricted stock that was issued under the Company’s share incentive plan in effect at the time of issuance. No class A common shares were surrendered or repurchased during the quarter ended March 31, 2024. The following table provides information with respect to the class A common shares that were surrendered or repurchased during the quarter ended March 31, 2023:
Period (1) |  | Total Number of Shares Purchased |  |  | Average Price Paid Per Share |  |  | Total Number of Shares Purchased as Part of Publicly Announced Plan or Program |  |  | Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs (2) |
January 1-31, 2023 |  |  | 3,302 |  | (3) | $ | 23.31 |  |  |  | — |  |  |  | — |
January 1-31, 2023 |  |  | 250,000 |  | (4) | $ | 25.90 |  |  |  | 250,000 |  |  |  | 31,604,066 |
Total |  |  | 253,302 |  |  | $ | 25.82 |  |  |  |  |  |  |
(1) Based on settlement date. (2) Based on the $60 million share repurchase authorization. (3) Surrendered by employees as payment of taxes withheld on the vesting of restricted stock and/or restricted stock units. (4) Purchased as part of the stock repurchase program which commenced in 4th quarter of 2022. There were no class B common shares that were surrendered or repurchased during the quarters ended March 31, 2024 or 2023. Each class A common share has one vote and each class B common share has ten votes. As of March 31, 2024, Global Indemnity Group, LLC’s class A common shares were held by approximately 140 shareholders of record. There were two holders of record of Global Indemnity Group, LLC’s class B common shares, all of whom are affiliated investment funds of Fox Paine & Company, LLC, as of March 31, 2024. Global Indemnity Group, LLC’s preferred shares were held by 1 holder of record, an affiliate of Fox Paine & Company, LLC, as of March 31, 2024. Please see Note 15 of the notes to the consolidated financial statements in Item 8 Part II of the Company’s 2023 Annual Report on Form 10-K for more information on the Company’s repurchase program. Distributions Distribution payments of $0.35 per common share were declared during the quarter ended March 31, 2024 as follows:
Approval Date |  | Record Date |  | Payment Date |  | Total Distributions Declared (Dollars in thousands) |
March 6, 2024 |  | March 21, 2024 |  | March 28, 2024 |  | $ | 4,752 |
Various (1) |  | Various |  | Various |  |  | 18 |
Total |  |  |  |  |  | $ | 4,770 |
(1) Represents distributions declared on unvested shares, net of forfeitures. Distribution payments of $0.25 per common share were declared during the quarter ended March 31, 2023 as follows:
Approval Date |  | Record Date |  | Payment Date |  | Total Distributions Declared (Dollars in thousands) |
March 2, 2023 |  | March 24, 2023 |  | March 31, 2023 |  | $ | 3,410 |
Various (1) |  | Various |  | Various |  |  | (64 | )
Total |  |  |  |  |  | $ | 3,346 |
(1) Represents distributions declared on unvested shares, net of forfeitures. In addition, distributions paid to Global Indemnity Group, LLC's preferred shareholder were $0.1 million in each of the quarters ended March 31, 2024 and 2023. Accrued distributions on unvested shares, which were included in other liabilities on the consolidated balance sheets, were $0.2 million and $0.3 million as of March 31, 2024 and December 31, 2023, respectively. Accrued preferred distributions were less than $0.1 million as of both March 31, 2024 and December 31, 2023 and were included in other liabilities on the consolidated balance sheets. Please see Note 15 of the notes to the consolidated financial statements in Item 8 Part II of the Company’s 2023 Annual Report on Form 10-K for more information on the Company’s distribution program.

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