GBLI — what changed in the latest 10-Q
A section-by-section comparison of GBLI's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-06 vs the prior 10-Q · 2026-05-05
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +46 | −37 | ~29 | 46 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 2 |
| Controls & procedures | Text added/removed | +3 | −2 | 0 | 0 |
| Legal proceedings | Text added/removed | 0 | 0 | ~1 | 1 |
| Risk factors | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-06
Current accident year underwriting income increased 3.2% to $5.8 million for 2026 from $5.6 million of underwriting income for the same period in 2025.
Current accident year combined ratio was 94.7% in 2026 compared to 94.6% for the same period in 2025.
Net investment income increased 11.2% to $16.4 million in 2026.
Net income of $11.1 million, or $0.76 per share diluted, in 2026 compared to $10.3 million, or $0.71 per share diluted, for the same period in 2025.
Current accident year underwriting income improved to $11.2 million for 2026 compared to an underwriting loss of $4.7 million in same period in 2025. Current accident year combined ratio was 94.8% compared to 103.0% for the same period in 2025.
Text removed vs the prior filing · source: 10-Q · 2026-05-05
Current accident year underwriting income was $5.5 million for 2026 compared to a current accident year underwriting loss of $10.3 million for the same period in 2025. The current accident year underwriting loss for 2025 includes net losses and loss adjustment expenses related to California Wildfire…
Current accident year combined ratio was 94.9% in 2026 compared to 111.5% for the same period in 2025. Excluding California Wildfires, the current accident year combined ratio would have been 94.8% in 2025.
Excluding California Wildfires in 2025, calendar year underwriting income increased from $5.1 million in 2025 to $5.3 million for 2026.
Calendar year combined ratio was 95.1% in 2026 compared to 111.7% for the same period in 2025. Excluding California Wildfires, the calendar year combined ratio would have been 95.0% in 2025.
Gross written premiums were $96.5 million in 2026 compared to $98.7 million for the same period in 2025.
Controls & procedures
Text added vs the prior filing · source: 10-Q · 2026-08-06
The Company maintains disclosure controls and procedures (as that term is defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) that are designed to ensure that information required to be disclosed in the Company’s reports under the Excha…
well designed and operated, can provide only reasonable assurance of achieving the desired control objectives. The Company’s management, with the participation of the Company’s Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of the design and operation of the Com…
There have been no changes in the Company’s internal controls over financial reporting that occurred during the quarter ended June 30, 2026 that have materially affected, or are reasonably likely to materially affect, the Company’s internal controls over financial reporting.
Text removed vs the prior filing · source: 10-Q · 2026-05-05
The Company maintains disclosure controls and procedures (as that term is defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) that are designed to ensure that information required to be disclosed in the Company’s reports under the Excha…
There have been no changes in the Company’s internal controls over financial reporting that occurred during the quarter ended March 31, 2026 that have materially affected, or are reasonably likely to materially affect, the Company’s internal controls over financial reporting.
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice