Company: GLRE
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001385613-25-000079
Chunk: 72

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 72
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•Financial: The 61.4% increase is predominantly from growth of existing programs.

Net Premiums Written

Ceded premiums written in Q2 2025 was $4.9 million, resulting in net premiums written of $22.7 million, compared to $3.1 million and $22.2 million, respectively, in Q2 2024. The increase in ceded premiums written was predominantly driven by the new whole-account retrocession program in which we have ceded 28% of Innovations-related programs incepting Q4 2024 onwards.

Ceded premiums written in YTD 2025 was $8.4 million, resulting in net premiums written of $46.7 million, compared to $6.9 million and $48.5 million, respectively, in YTD 2024. The increase in ceded premiums written was driven mainly by the whole-account retrocession program noted for Q2 2025, coupled with an increase in quota share retrocessions due to growth from inward health and specialty business.

Net Premiums Earned

Net premiums earned by line of business were as follows:

Three months ended June 30Six months ended June 3020252024Change20252024ChangeCasualty$5,228 24 %$4,953 20 %$275 10,897 27 %9,873 22 %$1,024 Financial2,687 13 %2,246 9 %441 3,729 9 %1,663 4 %2,066 Health939 4 %511 2 %428 2,312 6 %1,108 2 %1,204 Multiline11,129 52 %14,990 59 %(3,861)23,153 57 %28,323 62 %(5,170)Specialty1,403 7 %2,648 10 %(1,245)300 1 %4,578 10 %(4,278)Total$21,386 100 %$25,348 100 %$(3,962)40,391 100 %45,545 100 %$(5,154)

Net premiums earned in Q2 2025 decreased by $4.0 million or 15.6%, compared to Q2 2024. Net premiums earned in YTD 2025