Company: GLRE
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001385613-25-000079
Chunk: 66

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 66
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Net Premiums Written

Ceded premiums written in Q2 2025 was $10.2 million, resulting in net premiums written of $142.1 million, compared to $11.7 million and $131.6 million, respectively, in Q2 2024. The decrease in ceded premiums written of 12.8% was driven by a decrease in quota share retrocession within our property line due to the non-renewal of the inward 2023 quota share reinsurance treaty as previously noted, offset partially by an increase in quota share retrocession due to growth from inward aviation and M&E business.

Ceded premiums written in YTD 2025 was $35.3 million, resulting in net premiums written of $337.7 million, compared to $31.1 million and $299.3 million, respectively, in YTD 2024. The increase in ceded premiums written of 10.4% was primarily within our specialty line driven mainly by additional excess of loss retrocessional coverage to manage our overall exposure to aviation and M&E business, coupled with an increase in quota share retrocession due to growth from inward aviation and M&E business. This was partially offset by a decrease in quota share retrocession within our property line as noted for Q2 2025.

Net Premiums Earned

Net premiums earned by line of business were as follows:

Three months ended June 30Six months ended June 3020252024Change20252024ChangeCasualty$24,680 18 %$21,628 17 %$3,052 $52,023 18 %$44,937 14 %$7,086 Financial15,306 11 %15,152 12 %154 29,621 10 %31,308 9 %(1,687)Health44 — %54 — %(10)89 — %108 — %(19)Multiline45,640 32 %44,258 35 %1,382 99,362 34 %99,518 30 %(156)Property13,803 10 %12,977 10 %826 32,309 11 %24,626 7 %7,683 Specialty41,082 29 %31,796 25 %9,286 76,792 26 %56,978 17