Company: GLRE
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0001385613-25-000007
Chunk: 339

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-03-10
Form: 10-K
Item: Item 8
Chunk 339
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ations:Casualty19,986 2,124 22,110 Financial3,925 — 3,925 Health701 691 1,392 Multiline44,376 612 44,988 Specialty2,091 262 2,353 Total Innovations segment71,079 3,689 74,768 Corporate - Runoff Property7,315 2,470 9,785 Total$769,580 $85,790 855,370 Unallocated claims adjustment expenses5,235 Other364 Total loss and LAE reserves$860,969 

8.     RETROCESSION 

 From time to time, the Company purchases retrocessional coverage for one or more of the following reasons: to manage its overall exposure, reduce its net liability on individual risks, obtain additional underwriting capacity, and balance its underwriting portfolio. The Company records loss and LAE recoverable from retrocessionaires as assets. The following table provides a breakdown of ceded reinsurance:Year ended December 31,202420232022Gross ceded premiums$77,070 $42,762 $33,429 Earned ceded premiums$64,788 $43,653 $15,318 Loss and loss adjustment expenses ceded$72,095 $25,554 $6,615 Retrocession contracts do not relieve the Company from its obligations to its cedents. Failure of retrocessionaires to honor their obligations could result in losses to the Company. The following table shows a breakdown of losses recoverable on a gross and net of collateral basis:

F-37

December 31, 2024December 31, 2023 GrossNet of Collateral(1)GrossNet of Collateral(1)A- or better by A.M. Best$82,181 $63,979 $8,767 $8,767 Not rated4,109 2,027 17,407 2,432 Total before provision86,290 $66,006 $26,174 $11,199 Provision for credit losses(500)(487)Total loss and loss adjustment expenses recoverable, net$85,790 $25,687 (1) Collateral is in the form of cash, letters of credit, funds withheld, and/or cash collateral held in trust accounts. This excludes any