Company: GLRE
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001385613-25-000058
Chunk: 27

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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3,483 $3,534 Forfeited shares, net of issued shares(27)(2)Balance - end of period3,456 3,532 Additional paid-in capitalBalance - beginning of period481,551 484,532 Share-based compensation expense1,325 1,346 Balance - end of period482,876 485,878 Retained earningsBalance - beginning of period150,845 108,029 Net income29,627 27,019 Balance - end of period180,472 135,048 Total shareholders' equity$666,804 $624,458 

The accompanying Notes to the Condensed Consolidated Financial Statements are an

 integral part of the Condensed Consolidated Financial Statements. 

6

GREENLIGHT CAPITAL RE, LTD.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS 

(UNAUDITED)

For the three months ended March 31, 2025 and 2024 

(expressed in thousands of U.S. dollars) 

Three months ended March 31 20252024Cash flows from operating activities Net income $29,627 $27,019 Adjustments to reconcile net income or loss to net cash provided by operating activities:   Income from investments in related party investment fund(32,197)(18,248)   Net realized and unrealized losses (gains) on other investments(111)413    Net realized and unrealized losses (gains) on derivatives64 (472)   Share-based compensation expense1,298 1,344    Accretion of debt offering costs, net of change in interest accruals23 123    Net change in:     Reinsurance balances receivable(64,228)(74,341)     Loss and loss adjustment expenses recoverable(2,173)(19,078)     Deferred acquisition costs(14,510)(4,935)     Unearned premiums ceded(9,350)(7,941)     Loss and loss adjustment expense reserves55,631 69,101      Unearned premium reserves59,760 42,321      Reinsurance balances payable(12,162)2,657      Funds withheld(53)3,507      Other items, net(1,240)(3,510)Net cash provided by operating activities10,379 17,960 Cash flows from investing