Company: GLRE
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0001385613-25-000007
Chunk: 252

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-03-10
Form: 10-K
Item: Item 1
Chunk 252
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 statements for further details on our reportable segments and a breakdown of our gross premiums written by geographic area of risks insured.

The following table presents the gross premiums written for our reportable segments for the most recent three years:

202420232022Open Market603,798 86.5 %504,435 79.2 %452,541 80.4 %Innovations94,725 13.6 %88,601 13.9 %50,736 9.0 %Total Segments$698,523 100.0 %$593,036 93.1 %$503,277 89.4 %Corporate (1)(188)— %43,773 6.9 %59,894 10.6 %Total consolidated gross premiums written$698,335 100.0 %$636,809 100.0 %$563,171 100.0 %

(1) Corporate includes gross premiums written from Innovations’ related property runoff business.

7

Open Market Segment

Our Open Market segment is led by our Group CUO, with approximately 25 years of P&C reinsurance experience. Our Group CUO also oversees the underwriting activities of our Innovations segment (see below).

We provide treaty reinsurance to insurance companies on a global basis, written on a proportional or non-proportional (also known as excess of loss) basis. The Open Market segment has the following lines of business:

•Casualty: includes primarily general liability, umbrella, multiline casualty, and workers’ compensation coverage.

•Financial: includes primarily mortgage, trade credit, surety, transactional liability, and financial multiline coverage.

•Health: includes primarily accident and critical illness coverage.

•Multiline: includes predominantly FAL business, coupled with multiline commercial and personal auto liability, BOP, and multiline commercial coverage.

•Property: includes mainly commercial property and property catastrophe coverage.

•Specialty: includes primarily agriculture, cyber, marine and energy, aviation and space, specialty multiline, and WPVT  coverage.

The majority of our Open Market business is produced through reinsurance brokers worldwide. Brokerage distribution channels provide us with access to an efficient, variable cost and global distribution system. In some cases, intermediaries also provide other services, including risk analytics, processing, and clearing.

We aim to build and strengthen long-term relationships with global reinsurance brokers. Our underwriting team has relationships with most primary and specialty broker