Company: GLRE
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001385613-25-000079
Chunk: 43

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 43
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 amount of unrealized loss for the above derivatives and $0.6 million of unrealized gain, respectively, which is included in interest expense in the condensed consolidated statements of operations.Financial Instruments Disclosed, But Not Carried, at Fair Value

At June 30, 2025, the carrying value of debt and convertible debt securities within “Other Investments” (see Note 4) and the Term Loans approximates their fair values. The Company classifies these financial instruments as Level 2 within the fair value hierarchy. 

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  7.      LOSS AND LOSS ADJUSTMENT EXPENSE RESERVES 

The Company’s loss and loss adjustment expense (“LAE”) reserves were composed of the following:June 30, 2025December 31, 2024Case reserves$242,033 $230,633 IBNR702,952 630,336 Total$944,985 $860,969 Reserve Roll-forwardThe following provides a summary of changes in outstanding loss and LAE reserves for all lines of business:ConsolidatedSix months ended June 3020252024Gross balance at January 1$860,969 $661,554 Less: Losses recoverable(85,790)(25,687)Net balance at January 1775,179 635,867 Incurred losses related to:  Current year215,698 206,647 Prior years7,265 4,712 Total incurred222,963 211,359 Paid losses related to:  Current year(15,445)(20,677)Prior years(161,261)(129,716)Total paid(176,706)(150,393)Foreign exchange and translation adjustment29,578 (2,723)Net balance at June 30851,014 694,110 Add: Losses recoverable (see Note 8)93,971 58,647 Gross balance at June 30$944,985 $752,757 Estimates for Catastrophe EventsAt June 30, 2025, the Company’s net reserves for losses and LAE include estimated amounts for catastrophe and weather-related events  (the “CAT losses”). The magnitude and volume of losses arising from these events is inherently uncertain, and, consequently, actual losses for these events may ultimately differ, potentially materially, from current estimates.CAT events in 2025During the six months ended June 30, 2025