Company: GLRE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001385613-25-000113
Chunk: 42

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 42
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ities $28,962 $38,261 $(5,705)$— $61,518 Debt and convertible debt securities1,585 — — 79 1,664 Total other investments$30,547 $38,261 $(5,705)$79 $63,182 

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At December 31, 2024, the breakdown of the Company’s other investments was as follows:CostUnrealizedgainsUnrealizedlossesAccrued interestFair value / carrying valuePrivate investments and unlisted equities$28,111 $51,076 $(7,320)$— $71,867 Debt and convertible debt securities2,713 — (1,510)90 1,293 Total other investments$30,824 $51,076 $(8,830)$90 $73,160 Private investments and unlisted equitiesMeasurement alternativeDuring the nine months ended September 30, 2025, and 2024, the Company made further investments in equity securities in privately held entities that do not have readily determinable fair values.  In accordance with ASC 321-10-35-2, the Company has elected to apply the measurement alternative to these new investments.  Under this approach, the investments are measured at cost, less impairment, and adjusted for observable price changes in orderly transactions for an identical or similar investments of the same issuer.Adjustments for observable price changes and impairmentsThe Company recognized the following adjustments to the carrying values of the private investments and unlisted equity securities, resulting from observable price changes in orderly transactions and impairments:Three months ended September 30Nine months ended September 302025202420252024Upward adjustments (1)$3,870 $— $5,618 $501 Downward adjustments(2)$— $— $(148)$— Impairments$(16,400)$— $(17,859)— (1) Based on observable price changes, the cumulative upward carrying value changes from inception to September 30, 2025, totaled $38.3 million.(2) Based on observable price changes, the cumulative downward carrying value changes from inception to September 30, 2025, totaled $2.5 million.During the three and nine months ended September 30, 2025, the upward adjustments were driven by favorable observable price changes from completed financing rounds by some of the investees