Company: GLRE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001385613-25-000113
Chunk: 37

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS 

(UNAUDITED)

For the nine months ended September 30, 2025 and 2024 

(expressed in thousands of U.S. dollars) 

Nine months ended September 30 20252024Cash flows from operating activities Net income $25,551 $70,234 Adjustments to reconcile net income or loss to net cash provided by operating activities:   Loss (income) from investments in related party investment fund483 (42,422)   Net realized and unrealized losses on other investments11,731 324    Net realized and unrealized losses (gains) on derivatives(13)58    Share-based compensation expense4,459 4,577    Accretion of debt offering costs, net of change in interest accruals(691)1,177    Depreciation expense44 —    Net change in:     Reinsurance balances receivable(27,224)(99,318)     Reinsurance recoverable on unpaid loss and loss adjustment expenses3,007 (40,260)     Deferred acquisition costs(16,227)(2,250)     Unearned premiums ceded(6,578)(18,009)     Loss and loss adjustment expense reserves77,339 149,598      Unearned premium reserves54,723 40,793      Reinsurance balances payable(7,912)19,169      Funds withheld(6,739)3,499      Other items, net(1,953)(5,200)Net cash provided by operating activities110,000 81,970 Cash flows from investing activitiesProceeds from redemptions of investment in Solasglas14,000 14,000 Contributions to investment in Solasglas(84,200)(110,576)Purchases of other investments(2,737)(814)Proceeds from sale of other investments984 168 Purchases of other assets (252)— Net cash used in investing activities(72,205)(97,222)Cash flows from financing activitiesRepayment of debt(25,313)(11,876)Repurchase of ordinary shares(7,000)(7,488)Net cash used in financing activities(32,313)(19,364)Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash664 619 Increase (