Company: GLRE
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001385613-25-000079
Chunk: 3

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 2
Chunk 3
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5 %

(1) Assuming net exercise by the grantee.

27

Consolidated Results of Operations

The table below summarizes our consolidated operating results.

Three months ended June 30Six months ended June 3020252024Change20252024ChangeUnderwriting results:Gross premiums written$179,628 $168,975 $10,653 $427,573 $386,233 $41,340 Net premiums written$164,527 $154,143 $10,384 $383,924 $348,220 $35,704 Net premiums earned$161,641 $158,398 $3,243 $330,104 $319,934 $10,170 Net loss and LAE incurred:Current year(97,032)(102,722)5,690 (215,698)(206,647)(9,051)Prior year (1)(3,047)689 (3,736)(7,265)(4,712)(2,553)Net loss and LAE incurred(100,079)(102,033)1,954 (222,963)(211,359)(11,604)Acquisition costs(46,848)(50,454)3,606 (93,714)(92,064)(1,650)Underwriting expenses(6,481)(5,811)(670)(12,839)(12,150)(689)Deposit interest income (expense), net(124)233 (357)(273)(643)370 Net underwriting income8,109 333 7,776 315 3,718 (3,403)Investment results:Income from investment in Solasglas(18,276)4,330 (22,606)13,921 22,578 (8,657)Net investment income10,470 10,948 (478)18,757 24,126 (5,369)Total investment income (loss)(7,806)15,278 (23,084)32,678 46,704 (14,026)Corporate and other expenses(4,755)(4,706)(49)(9,427)(9,081)(346)Foreign exchange gains (losses)6,271 (932)7,203 10,626 (2,581)13,207 Interest expense(1,144)(1,