Company: GLRE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001385613-25-000113
Chunk: 59

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 59
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Open MarketInnovationsCorporateTotal ConsolidatedGross premiums written$480,703 $74,062 $(186)$554,579 Net premiums written$427,539 $62,626 $(197)$489,968 Net premiums earned$384,052 $67,338 $20,428 $471,818 Net loss and LAE incurred(236,280)(38,984)(29,260)(304,524)Acquisition costs(112,313)(21,422)(4,491)(138,226)Other underwriting expenses(15,165)(3,058)— (18,223)Deposit interest expense, net(1,020)— — (1,020)Underwriting income (loss)19,274 3,874 (13,323)9,825 Reconciliation to income before income taxes:Net investment income31,758 436 2,386 34,580 Corporate and other expenses— (2,008)(11,326)(13,334)Income from investment in Solasglas42,422 42,422 Foreign exchange gains (losses)3,245 3,245 Interest expense(4,827)(4,827)Income (loss) before income taxes$51,032 $2,302 $18,577 $71,911 Additional information:Net loss and LAE incurred:  Attritional losses$(212,462)$(40,532)$(12,504)$(265,498)  Large event losses(10,100)— — (10,100)  CAT event losses(17,500)— (12,369)(29,869)  Prior year favorable (adverse) loss development3,782 1,548 (4,387)943 Total net loss and LAE incurred$(236,280)$(38,984)$(29,260)$(304,524)Total allocated assets (1)$406,318 $138,526 $1,456,842 $2,001,686 

(1) 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. 

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Item 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

References