Company: GLRE
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0001385613-25-000007
Chunk: 382

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-03-10
Form: 10-K
Item: Item 8
Chunk 382
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 and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

Critical Audit Matters 

Critical audit matters are matters arising from the current period audit of the financial statements that were communicated or required to be communicated to the audit committee and that: (1) relate to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective, or complex judgments. We determined that there are no critical audit matters.

 /s/ Ernst & Young Ltd. 

We have served as the Partnership’s auditor since 2018.

Grand Cayman, Cayman Islands

March 10, 2025

F-3

GREENLIGHT CAPITAL RE, LTD.

CONSOLIDATED BALANCE SHEETS

December 31, 2024 and 2023 

(expressed in thousands of U.S. dollars, except per share and share amounts)

 December 31, 2024December 31, 2023Assets  Investments  Investment in related party investment fund, at fair value$387,144 $258,890 Other investments73,160 73,293 Total investments460,304 332,183 Cash and cash equivalents64,685 51,082 Restricted cash and cash equivalents584,402 604,648 Reinsurance balances receivable (net of allowance for expected credit losses of 2024: $1,019 and 2023: $854)704,483 619,401 Loss and loss adjustment expenses recoverable (net of allowance for expected credit losses of 2024: $500 and 2023: $487)85,790 25,687 Deferred acquisition costs 82,249 79,956 Unearned premiums ceded29,545 17,261 Other assets4,765 5,089 Total assets$2,016,223 $1,735,307 Liabilities and equity Liabilities Loss and loss adjustment expense reserves$860,969 $661,554 Unearned premium reserves324,551 306,310 Reinsurance balances payable105,892 68,983 Funds withheld21,878 17,289 Other liabilities6,305 11,795 Debt 60,749 73,281 Total liabilities1,380,344 1,139,212 Commitments and Contingencies (Note 16)