Company: GLRE
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0001385613-25-000007
Chunk: 578

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-03-10
Form: 10-K
Item: Item 1A
Chunk 578
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.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 to which the inputs are observable in the market. The categorization of financial instruments within the valuation hierarchy is based on the lowest level of input that is significant to the fair value measurement. The hierarchy is prioritized into three levels (with Level 3 being the lowest) defined as follows:•Level 1: Quoted prices in active