Company: GLRE
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0001385613-25-000007
Chunk: 780

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-03-10
Form: 10-K
Item: Item 1A
Chunk 780
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 offset premium balances receivable and funds held by cedants against corresponding payments for losses and loss expenses.Loss and loss adjustment expenses recoverable, netThe Company regularly evaluates its net credit exposure to the retrocessionaires and their abilities to honor their respective obligations. See Note 8 for analysis of concentration of credit risk relating to retrocessionaires.b) Lease ObligationsThe Company operates in the Cayman Islands, United Kingdom, and Ireland under various non-cancelable operating lease agreements.  The Company’s weighted-average remaining operating lease term is approximately 1.5 years at December 31, 2024. As the lease contracts generally do not provide an implicit discount rate, the Company used the weighted-average discount rate of 6.0% to determine the present value of lease payments. This discount rate represents the Company’s incremental borrowing rate for a term similar to that of the associated lease based on information available at the commencement date. The Company has made an accounting policy election not to include renewal, termination, or purchase options that are not reasonably certain of exercise when determining the borrowing term.At December 31, 2024, the right-of-use assets and lease liabilities relating to the operating leases were $0.9 million and $1.0 million, respectively (2023: $1.4 million and $1.5 million, respectively). For the year ended December 31, 2024, the Company recognized operating lease expense $0.7 million (2023: $0.6 million, 2022: $0.6 million). At December 31, 2024, the commitment for operating lease liabilities for future annual periods was as follows:Year ending December 31,2025$686 2026377 Total lease payments1,063 Less present value discount(57)Present value of lease liabilities$1,006 c) Litigation

From time to time, in the ordinary course of business, the Company may be involved in formal and informal dispute resolution procedures, which may include arbitration or litigation. The outcomes of these procedures determine the rights and obligations under the Company’s reinsurance contracts and other contractual agreements. In some disputes, the Company may seek to enforce its rights under an agreement or collect funds owed. In other matters, the Company may resist attempts by others to collect funds or enforce alleged rights. While the Company cannot predict the outcome of legal disputes with certainty, the Company does not believe that any existing dispute, when finally resolved, will have a material adverse effect on the Company