Company: GLRE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001385613-25-000113
Chunk: 84

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 84
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, 2024. The increase was primarily due to the net income of $25.6 million reported for the period, coupled with share-based compensation adjustment to additional paid-in capital. This was partially offset by $7.0 million of stock repurchases during YTD 2025.

Liquidity and Capital Resources

Refer to the “Liquidity and Capital Resources” section included in Item 7 of our 2024 Form 10-K for a general discussion of our liquidity and capital resources.

Liquidity

The following table summarizes our sources and uses of funds:

Nine months ended September 3020252024Total cash provided by (used in):Operating activities$110,000 $81,970 Investing activities(72,205)(97,222)Financing activities(32,313)(19,364)Effect of currency exchange on cash664 619 Net cash inflows (outflows)6,146 (33,997)Cash, beginning of period (1)649,087 655,730 Cash, end of period$655,233 $621,733 

(1) Cash includes unrestricted and restricted cash and cash equivalents - see Note 5 of the financial statements.

Cash provided by operating activities

The $28.0 million increase in cash provided by operating activities in YTD 2025 compared to YTD 2024 was driven mainly by the ebb and flow from our underwriting activities. Cash inflows from underwriting activities generally include premiums, net of acquisition costs, and reinsurance recoverables. Cash outflows principally include payments of losses and LAE, payments of retrocession premiums, and operating expenses. Cash provided by operating activities may vary significantly from period to period due to the timing of these inflows and outflows.

Cash used in investing activities

The $25.0 million decrease in cash used for investing activities was driven mainly by the lower net contribution in Solasglas in YTD 2025 compared to YTD 2024.

Cash used in financing activities

During YTD 2025, we repurchased $7.0 million of our ordinary shares, compared to $7.5 million in YTD 2024. Additionally, we partially repaid $25.3 million of debt in YTD 2025, compared to $11.9 million in YTD 2024. 

Capital Resources

The following table summarizes our debt and capital structure:

 September 30, 2025December 31,