Company: GLRE
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001385613-25-000079
Chunk: 73

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 73
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 decreased by $5.2 million or 11.3%, compared to YTD 2024. The change relates to the amount and timing of net premiums written during the current year and prior years.  

For the multiline business, the non-renewal of certain treaties also contributed to the decline in net premiums earned in Q2 2025 and YTD 2025.

For the specialty line, revisions to our ultimate premiums written for certain treaties, which were previously earned, also contributed to the decrease in net premiums earned in Q2 2025 and YTD 2025.

35

Loss ratio

The components of the loss ratio were as follows:

Three months ended June 30Six months ended June 302025% Point Change20242025% Point Change2024Current year:  Attritional loss ratio59.4 %(0.8)60.3 %58.5 %(3.9)62.4 %  Large event loss ratio— %— — %— %— — %  CAT event loss ratio— %— — %— %— — %Current year loss ratio59.4 %(0.8)60.3 %58.5 %(3.9)62.4 %Prior year reserve development ratio11.8 %18.3 (6.5)%4.9 %8.5 (3.6)%Loss ratio71.3 %17.5 53.8 %63.4 %4.6 58.8 %

Current Year Loss Ratio

The current year loss ratio in Q2 2025 decreased by 0.8 points, compared to Q2 2024 driven mainly by lower attritional loss ratio for the multiline business due to business mix and new accounts, partially offset mainly by an increase in attritional loss ratio on a financial line quota share program in response to signs of poor performance.  

The current year loss ratio in YTD 2025 decreased by 3.9 points, compared to YTD 2024 driven mainly by improved loss performance in our Syndicate 3456 results in the multiline business, partially offset mainly by the increase in attritional loss ratio in the financial line as noted for Q2 2025.

The Innovations segment was not impacted by any CAT or large events for the periods presented in the above table.

Prior Year Reserve Development Ratio

Prior year reserve