Company: GLRE
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001385613-25-000079
Chunk: 79

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 79
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66,906 69,859 Northeast Hurricane64,499 64,499 North America Earthquake126,814 127,708 California Earthquake108,933 109,604        Pacific Northwest Earthquake47,689 47,689 New Madrid Earthquake17,433 17,433 Japan Earthquake36,178 37,078 Japan Windstorm22,367 23,259 Europe Windstorm68,621 73,912 

Debt

Our total debt decreased by $1.9 million, or 3.1%, to $58.9 million from $60.7 million at December 31, 2024 due to the quarterly loan installment payment. Refer to Note 9 “Debt and Credit Facilities” of the condensed consolidated financial statements for further information.

Total shareholders’ equity

Total shareholders’ equity increased by $27.4 million to $663.3 million, compared to $635.9 million at December 31, 2024. The increase was primarily due to the net income of $30.0 million reported for the period, coupled with share-based compensation adjustment to additional paid-in capital. This was partially offset by $5.0 million of stock repurchases during YTD 2025.

Liquidity and Capital Resources

Refer to the “Liquidity and Capital Resources” section included in Item 7 of our 2024 Form 10-K for a general discussion of our liquidity and capital resources.

Liquidity

The following table summarizes our sources and uses of funds:

Six months ended June 3020252024Total cash provided by (used in):Operating activities$78,819 $40,669 Investing activities(62,932)(70,246)Financing activities(6,875)(11,876)Effect of currency exchange on cash961 (107)Net cash inflows (outflows)9,973 (41,560)Cash, beginning of period (1)649,087 655,730 Cash, end of period$659,060 $614,170 

(1) Cash includes unrestricted and restricted cash and cash equivalents - see Note 5 of the financial statements.

40

Cash provided by operating activities

The $38.2 million increase in cash provided by operating activities in YTD 2025 compared to YTD 2024 was driven mainly by the ebb and flow from our underwriting activities. Cash inflows from underwriting