Company: GLRE
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0001385613-25-000007
Chunk: 560

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-03-10
Form: 10-K
Item: Item 1A
Chunk 560
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797,859 39,769,790 

The accompanying Notes to the Consolidated Financial Statements are an

 integral part of the Consolidated Financial Statements. 

F-5

GREENLIGHT CAPITAL RE, LTD.

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY

 For the years ended December 31, 2024, 2023, and 2022 

(expressed in thousands of U.S. dollars)

202420232022Ordinary share capitalBalance - beginning of period$3,534 $3,482 $3,384 Issue of ordinary shares, net of forfeitures4 52 99 Repurchase of ordinary shares(55)— (1)Balance - end of period3,483 3,534 3,482 Additional paid-in capitalBalance - beginning of period484,532 478,439 481,784 Cumulative effect of adoption of accounting guidance for convertible debt at January 1, 2022— — (7,896)Repurchase of ordinary shares(7,433)— (34)Share-based compensation expense4,452 6,093 4,585 Balance - end of period481,551 484,532 478,439 Retained earningsBalance - beginning of period108,029 21,199 (9,505)Cumulative effect of adoption of accounting guidance for convertible debt at January 1, 2022— — 5,362 Net income42,816 86,830 25,342 Balance - end of period150,845 108,029 21,199 Total shareholders' equity$635,879 $596,095 $503,120 

The accompanying Notes to the Consolidated Financial Statements are an

 integral part of the Consolidated Financial Statements. 

F-6

GREENLIGHT CAPITAL RE, LTD.

CONSOLIDATED STATEMENTS OF CASH FLOWS

For the years ended December 31, 2024, 2023, and 2022 

(expressed in thousands of U.S. dollars)

 202420232022Cash flows from operating activities  Net income $42,816 $86,830 $25,342 Adjustments to reconcile net income or loss to net cash provided by (used in) operating activities:   Income from investments in related party investment fund(33,605)(28,696)(54,