Company: GLRE
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0001385613-25-000007
Chunk: 618

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-03-10
Form: 10-K
Item: Item 1A
Chunk 618
---
10,140)(168,877)Other underwriting expenses(16,827)(2,760)— (19,587)Deposit interest expense, net(2,687)— — (2,687)Underwriting income (loss)48,591 1,773 (18,372)31,992 Reconciliation to income before income taxes:Net investment income37,351 2,732 3,325 43,408 Corporate and other expenses— (3,080)(20,573)(23,653)Income from investment in Solasglas28,696 28,696 Foreign exchange gains (losses)11,566 11,566 Other income, net265 265 Interest expense(5,344)(5,344)Income before income taxes$85,942 $1,425 $(437)$86,930 Additional information:Net loss and LAE incurred:  Attritional losses$243,440 $44,425 $32,162$320,027  CAT losses15,264 — 13,50728,771  Prior year adverse (favorable) loss development3,586 430 7,19011,206Total net loss and LAE incurred$262,290 $44,855 $52,859 $360,004 Total allocated assets (2)$485,388$98,467$1,151,451 $1,735,307(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-50

Year ended December 31, 2022:Open MarketInnovationsCorporateTotal ConsolidatedGross premiums written $452,541 $50,739 $59,891 $563,171 Net premiums written437,799 47,328 44,615 529,742 Net premiums earned410,877 33,184 25,416 469,477 Net loss and LAE incurred(268,659)(23,151)(24,675)(316,485)Acquisition costs(125,296)(11,111)(6,741)(143,148)Other underwriting expenses(11,867)(1,946)— (13,813)Deposit interest expense, net(6,717)— — (6