Company: GLRE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001385613-25-000113
Chunk: 40

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 40
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 December 15, 2026, and interim periods within fiscal years after December 15, 2027. Early adoption is permitted.The Company is currently evaluating the disclosure impact of the above new ASUs.

3.      INVESTMENT IN RELATED PARTY INVESTMENT FUND 

The Company’s maximum exposure to loss relating to Solasglas Investments, LP   (“Solasglas”) is limited to GLRE's share of Partners’ capital in Solasglas. At September 30, 2025, GLRE’s share of Partners’ capital in Solasglas was $456.9 million (December 31, 2024: $387.1 million), representing 81.6% (December 31, 2024: 77.9%) of Solasglas’ total net assets. DME Advisors II, LLC held the remaining 18.4% (December 31, 2024: 22.1%) of Solasglas’ total net assets. The Company’s share of the net decrease in Partner’s capital for the nine months ended September 30, 2025 was $0.5 million (nine months ended September 30, 2024: a net increase of $42.4 million), as shown in the caption “Income (loss) from investment in related party investment fund” in the Company’s condensed consolidated statements of operations. The summarized financial statements of Solasglas are presented below. Summarized Statements of Financial Condition of Solasglas Investments, LPSeptember 30, 2025December 31, 2024AssetsInvestments, at fair value$547,585 $504,828 Derivative contracts, at fair value26,277 8,925 Due from brokers288,641 188,296 Cash and cash equivalents— 40,354 Interest and dividends receivable445 1,536 Total assets862,948 743,939 Liabilities and partners’ capitalLiabilitiesInvestments sold short, at fair value(277,735)(234,977)Derivative contracts, at fair value(22,630)(4,452)Capital withdrawals payable(24)(4,000)Interest and dividends payable(1,871)(3,218)Accrued expenses and other liabilities(614)(180)Total liabilities(302,874)(246,827)Partners' capital$560,074 $497,112 GLRE’s share of Partners' capital$456,861 $387