Company: GLRE
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0001385613-25-000007
Chunk: 115

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-03-10
Form: 10-K
Item: Item 7
Chunk 115
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511,922 86,352 21,680 619,954 Net loss and LAE incurred(341,586)(51,939)(33,744)(427,269)Acquisition costs(144,852)(27,151)(4,772)(176,775)Other underwriting expenses(19,175)(3,682)— (22,857)Deposit interest expense, net (1)(1,228)— — (1,228)Underwriting income (loss)5,081 3,580 (16,836)(8,175)Reconciliation to income before income taxes:Net investment income42,629 702 2,623 45,954 Corporate and other expenses— (2,445)(13,932)(16,377)Income from investment in Solasglas33,605 33,605 Foreign exchange gains (losses)(5,606)(5,606)Interest expense(5,836)(5,836)Income before income taxes$47,710 $1,837 $(5,982)$43,565 Additional information:Net loss and LAE incurred:  Attritional losses$290,961 $52,235 $5,780$348,976  CAT losses35,681 — $21,808$57,489  Prior year adverse (favorable) loss development14,944 (296)$6,156$20,804Total net loss and LAE incurred$341,586 $51,939 $33,744 $427,269 Total allocated assets (2)$454,647$110,119$1,451,457$2,016,223(1) For the purpose of the above reportable segments table, the Company has reclassified $2.1 million of deposit interest income from “Other income, net” to “Deposit interest expense, net” relating to reinsurance contracts that did not meet the risk transfer requirement under U.S. GAAP.(2) The Company does not allocate assets to reporting segments, with the exception of restricted cash used to collateralized certain reinsurance transactions, including FAL, and  Innovations-related private investments. 

F-49

Year ended December 31, 2023:Open MarketInnovationsCorporateTotal ConsolidatedGross premiums written $504,435 $88,602 $43,773 $636,810 Net premiums written466