Company: GLRE
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001385613-25-000079
Chunk: 39

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 39
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MENT IN RELATED PARTY INVESTMENT FUND 

The Company’s maximum exposure to loss relating to Solasglas Investments, LP (“Solasglas”) is limited to GLRE's share of Partners’ capital in Solasglas. At June 30, 2025, GLRE’s share of Partners’ capital in Solasglas was $461.3 million (December 31, 2024: $387.1 million), representing 79.7% (December 31, 2024: 77.9%) of Solasglas’ total net assets. DME Advisors II, LLC held the remaining 20.3% (December 31, 2024: 22.1%) of Solasglas’ total net assets. The Company’s share of the net increase in Partner’s capital for the six months ended June 30, 2025 was $13.9 million (six months ended June 30, 2024: a net increase of $22.6 million), as shown in the caption “Income (loss) from investment in related party investment fund” in the Company’s condensed consolidated statements of operations. The summarized financial statements of Solasglas are presented below. Summarized Statements of Financial Condition of Solasglas Investments, LPJune 30, 2025December 31, 2024AssetsInvestments, at fair value$569,600 $504,828 Derivative contracts, at fair value25,054 8,925 Due from brokers382,603 188,296 Cash and cash equivalents— 40,354 Interest and dividends receivable401 1,536 Total assets977,658 743,939 Liabilities and partners’ capitalLiabilitiesInvestments sold short, at fair value(385,614)(234,977)Derivative contracts, at fair value(11,337)(4,452)Capital withdrawals payable(50)(4,000)Due to brokers(85)— Interest and dividends payable(1,437)(3,218)Accrued expenses and other liabilities(350)(180)Total liabilities(398,873)(246,827)Partners' capital$578,785 $497,112 GLRE’s share of Partners' capital$461,265 $387,144 

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Summarized Statements of Operations of Solasglas Investments, LPThree months ended June 30Six months ended June 302025202420252024Investment incomeDividend