Company: GLRE
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001385613-25-000058
Chunk: 18

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 2
Chunk 18
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 loss (December 31, 2024: $13.9 million) on our investment in Solasglas.

Commodity Prices Risk

In connection with Solasglas’ long or short investment in commodities or derivatives directly impacted by fluctuations in the prices of commodities, the following table summarizes the net impact that a 10% movement in commodity prices would have on the fair value of Solasglas’ investment portfolio. The below table excludes the indirect effect that changes in commodity prices might have on equity securities in the Solasglas’ investment portfolio.

10% increase in commodity prices10% decrease in commodity pricesAt March 31, 2025  ($ in millions)Gold$10.6 $(10.7)Copper2.7 (1.6)Uranium0.4 (0.4)Total$13.7 $(12.7)

10% increase in commodity prices10% decrease in commodity pricesAt December 31, 2024  ($ in millions)Gold$7.9 $(5.9)Copper0.9 (0.7)Uranium0.4 (0.4)Total$9.2 $(7.0)

Foreign Currency Risk

In connection with the underlying cash, forwards, options, and investments in securities denominated in foreign currencies held by Solasglas at March 31, 2025, a 10% increase in the value of the U.S. dollar against foreign currencies (mostly Euro) would result in a $2.8 million unrealized loss (December 31, 2024: $0.2 million) on our investment in Solasglas.

Interest Rate Risk

In connection with the interest rate derivatives held in Solasglas at March 31, 2025, a 100 basis points increase in interest rates would result in a $16.6 million unrealized loss (December 31, 2024: $0.2 million) on our investment in Solasglas.

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Item 4.    CONTROLS AND PROCEDURES

Disclosure Controls and Procedures

As required by Rules 13a-15 and 15d-15 of the Exchange Act, the Company has evaluated, with the participation of management, including the Chief Executive Officer and the Chief Financial Officer, the effectiveness of its disclosure controls and procedures (as defined in such rules) as of the end of the period covered by this report. Based on such evaluation, the Chief Executive Officer