General Indemnity Group Announces Strong Financial Performance for FY 2023 and Expands Executive Team

General Indemnity Group (GIG), part of Boston Omaha Corporation, reported significant growth in its financial results for FY 2023, with a 32% increase in total revenue, reaching $17.7 million. The company also saw a net income of $2.06 million and an operational income of $1.52 million for the same period.

Under the leadership of President Dave Herman, GIG has undergone substantial growth since its initial acquisition in 2016 when the company's profitability and revenue were notably low. Through extensive expansions across all 50 states and an increase in operating units and services, GIG has established its presence as a major provider in the surety insurance sector.

Significantly enhancing its executive team, GIG appointed Kyle Fowler as the Chief Financial Officer in December 2023. Fowler, an experienced figure in finance with a decade in the insurance industry, previously served at Unified Life Insurance Company. His expertise is expected to drive further growth and help position GIG as a leading service provider in the industry.