Company: GLRE
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0001385613-25-000007
Chunk: 696

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-03-10
Form: 10-K
Item: Item 1A
Chunk 696
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 of $13.68 per share.

At December 31, 2024, there were 34,831,324 outstanding ordinary shares, a decrease of 505,408 since December 31, 2023, mainly due to 547,402 of share repurchases offset partially by issuance of restricted shares and ordinary shares for vested RSUs, net of forfeitures.

We expect that the existing capital base and internally generated funds will be sufficient to implement our business strategy for the foreseeable future. However, to provide us with flexibility and timely access to public capital markets should we require additional capital for working capital, capital expenditures, acquisitions, or other general corporate purposes, we have renewed our $200.0 million shelf registration by filing the Form S-3 registration statement with the SEC, which became effective on July 5, 2024, and will expire on July 1, 2027. 

Contractual Obligations and Commitments

At December 31, 2024, our contractual obligations and commitments by period due were as follows: 

Less than 1 year1-3 years3-5 yearsMore than 5 yearsTotalOperating activities  Loss and loss adjustment expense reserves (1)$338,361 $297,034 $105,899 $119,675 $860,969   Operating lease obligations (2)686 377 — — 1,063 Financing activities  Debt (principal payments) (3)3,016 57,297 — — 60,313 Total$342,062 $354,708 $105,899 $119,675 $922,345 

(1) Due to the nature of our reinsurance operations, the actual amount and timing of the cash flows associated with our reinsurance contractual liabilities will fluctuate, perhaps materially, and, therefore, are highly uncertain. We have not taken into account corresponding reinsurance recoverable on unpaid amounts that would be due to us.

(2) See Note 16 “Commitments and Contingencies” of the consolidated financial statements.

(3) See Note 9 “Debt and Credit Facilities” of the consolidated financial statements.

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Critical Accounting Estimates

Our consolidated financial statements contain certain amounts that are inherently subjective and have required management to make assumptions and best estimates to determine reported values. If certain factors, including those described in “Part I, Item IA. — Risk Factors,” cause actual events or results