Company: GLRE
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001385613-25-000058
Chunk: 21

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 3
Chunk 21
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Item 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Refer to Item 7A included in our 2024 Form 10-K.  There have been no material changes to this item since December 31, 2024, except for the following.

Equity Price Risk

In connection with equity securities held by Solasglas at March 31, 2025, a 10% decline in the price of each of the underlying listed equity securities and equity-based derivative instruments would result in a $8.2 million unrealized loss (December 31, 2024: $13.9 million) on our investment in Solasglas.

Commodity Prices Risk

In connection with Solasglas’ long or short investment in commodities or derivatives directly impacted by fluctuations in the prices of commodities, the following table summarizes the net impact that a 10% movement in commodity prices would have on the fair value of Solasglas’ investment portfolio. The below table excludes the indirect effect that changes in commodity prices might have on equity securities in the Solasglas’ investment portfolio.

10% increase in commodity prices10% decrease in commodity pricesAt March 31, 2025  ($ in millions)Gold$10.6 $(10.7)Copper2.7 (1.6)Uranium0.4 (0.4)Total$13.7 $(12.7)

10% increase in commodity prices10% decrease in commodity pricesAt December 31, 2024  ($ in millions)Gold$7.9 $(5.9)Copper0.9 (0.7)Uranium0.4 (0.4)Total$9.2 $(7.0)

Foreign Currency Risk

In connection with the underlying cash, forwards, options, and investments in securities denominated in foreign currencies held by Solasglas at March 31, 2025, a 10% increase in the value of the U.S. dollar against foreign currencies (mostly Euro) would result in a $2.8 million unrealized loss (December 31, 2024: $0.2 million) on our investment in Solasglas.

Interest Rate Risk

In connection with the interest rate derivatives held in Solasglas at March 31, 2025, a 100 basis points increase in interest rates would result in a $