Company: GLRE
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0001385613-25-000007
Chunk: 76

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-03-10
Form: 10-K
Item: Item 7
Chunk 76
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-end carrying values reflect cumulative purchases and sales in addition to upward and downward carrying value changes.(2) The cumulative upward carrying value changes from inception to December 31, 2024, totaled $53.5 million.(3) The cumulative downward carrying value changes and impairments from inception to December 31, 2024, totaled $9.7 million.Net investment incomeThe following table summarizes the change in unrealized gains (losses) and the realized gains (losses) for the Company’s other investments, which are included in “Net investment income” in the consolidated statements of operations (see Note 13):Year ended December 31, 202420232022Gross realized gains$346 $7 $— Gross realized losses(1,332)(811)— Net realized gains (losses)$(986)$(804)$— Change in unrealized gains68 2,542 9,858 Net realized and unrealized gains (losses) on other investments$(918)$1,738 $9,858 

5.     RESTRICTED CASH AND CASH EQUIVALENTS 

The following table shows the breakdown of the Company’s restricted cash and cash equivalents, along with a reconciliation of the total cash, cash equivalents, and restricted cash reported in the consolidated statements of cash flows: December 31, 2024December 31, 2023Restricted cash and cash equivalents:  Cash securing trust accounts$256,796 $300,152   Cash securing letters of credit issued312,855 291,456   Cash securing Loan Facility10,000 10,000   Other4,751 3,040 Total restricted cash and cash equivalents584,402 604,648 Cash and cash equivalents64,685 51,082 Total cash, cash equivalents, and restricted cash$649,087 $655,730 

F-20

Where the Company operates as a non-admitted carrier in certain foreign jurisdictions, regulatory trust accounts and letters of credit are issued to cedents. Additionally, the Company has provided cash collateral for the Loan Facility (see Note 9).

6.     FAIR VALUE MEASUREMENTS 

Fair Value HierarchyThe fair value of a financial instrument is the amount that would be received in an asset sale or paid to transfer a liability in an orderly transaction between unaffiliated market participants. Assets and liabilities measured at fair value are categorized based on the extent