Company: GLRE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001385613-25-000113
Chunk: 15

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 2
Chunk 15
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501 55 %2,845 Specialty5,734 20 %4,185 22 %1,549 10,301 12 %8,723 12 %1,578 Total$29,393 100 %$18,675 100 %$10,718 $84,455 100 %$74,062 100 %$10,393 

Gross premiums written within our Innovations segment in Q3 2025 increased by $10.7 million or 57.4%, compared to Q3 2024. The increase was predominantly attributable to the following lines of business:

•Multiline: The $7.1 million, or 75.1%, increase was driven mostly by premium growth from our Syndicate 3456.

•Financial: The $2.7 million increase was driven predominantly from growth on existing programs. The Q3 2024 gross premiums written was impacted by a downward premium adjustment based on new information.

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Offset partially by:

•Casualty: The $1.1 million, or 19.6%, decrease was mainly due to change in our premium estimates on prior treaty years.

Gross premiums written within our Innovations segment in YTD 2025 increased by $10.4 million or 14.0%, compared to YTD 2024. The increase was predominantly attributable to the following lines of business:

•Financial: The $4.5 million, or 252.4%, increase was driven mostly from growth on existing programs.

•Health: The $4.1 million, or 137.8%, increase was driven mainly by new quota share reinsurance business.

Offset partially by:

•Casualty: The 13.1% decrease was predominantly due to the change in our premium estimates for a quota share reinsurance and the non-renewal of a reinsurance program.

Net Premiums Written

Ceded premiums written in Q3 2025 was $7.1 million, resulting in net premiums written of $22.3 million, compared to $4.5 million and $14.2 million, respectively, in Q3 2024. 

Ceded premiums written in YTD 2025 was $15.5 million, resulting in net premiums written of $69.0 million, compared to $11.4 million and $62.6 million, respectively, in YTD 2024. 

The increase in ceded