Company: GLRE
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001385613-25-000079
Chunk: 36

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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(UNAUDITED)

For the six months ended June 30, 2025 and 2024 

(expressed in thousands of U.S. dollars) 

Six months ended June 30 20252024Cash flows from operating activities Net income $29,956 $34,997 Adjustments to reconcile net income or loss to net cash provided by operating activities:   Income from investments in related party investment fund(13,921)(22,578)   Net realized and unrealized losses (gains) on other investments(144)324    Net realized and unrealized losses (gains) on derivatives26 (565)   Share-based compensation expense2,483 2,928    Accretion of debt offering costs, net of change in interest accruals15 190    Net change in:     Reinsurance balances receivable(50,813)(67,342)     Loss and loss adjustment expenses recoverable(8,181)(32,960)     Deferred acquisition costs(16,567)(3,349)     Unearned premiums ceded(7,078)(10,923)     Loss and loss adjustment expense reserves84,016 91,203      Unearned premium reserves58,873 42,705      Reinsurance balances payable211 7,270      Funds withheld699 977      Other items, net(756)(2,208)Net cash provided by operating activities78,819 40,669 Cash flows from investing activitiesProceeds from redemptions of investment in Solasglas14,000 — Contributions to investment in Solasglas(74,200)(70,000)Purchases of other investments(2,737)(414)Proceeds on disposal of other investments5 168 Net cash used in investing activities(62,932)(70,246)Cash flows from financing activitiesRepayment of Term Loans(1,875)(11,876)Repurchase of ordinary shares(5,000)— Net cash used in financing activities(6,875)(11,876)Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash961 (107)Increase (decrease) in cash, cash equivalents and restricted cash9,973 (41,560)Cash, cash equivalents and restricted cash at beginning of the period  649,087 655,730 Cash, cash equivalents and restricted cash at