Company: GLRE
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001385613-25-000058
Chunk: 44

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 44
---
(876)Underwriting income (loss)4,977 156 (1,748)3,385 Reconciliation to income before income taxes:Net investment income12,616 (183)745 13,178 Corporate and other expenses— (590)(3,785)(4,375)Income from investment in Solasglas18,248 18,248 Foreign exchange gains (losses)(1,649)(1,649)Interest expense(1,249)(1,249)Income (loss) before income taxes$17,593 $(617)$10,562 $27,538 Additional information:Net loss and LAE incurred:  Attritional losses$(72,790)$(13,128)$(5,570)$(91,488)  CAT losses(12,437)— — (12,437)  Prior year adverse (favorable) loss development(1,473)1 (3,929)(5,401)Total net loss and LAE incurred$(86,700)$(13,127)$(9,499)$(109,326)Total allocated assets (1)$479,820 $92,939 $1,304,210 $1,876,969 

(1) The Company does not allocate assets to reporting segments, with the exception of restricted cash used to collateralized certain reinsurance transactions, including FAL, and  Innovations-related private investments. 

Item 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

References to “we,” “us,” “our,” “our company,” or “the Company” refer to Greenlight Capital Re, Ltd. (“GLRE”) and its wholly-owned subsidiaries unless the context dictates otherwise. 

The following discussion should be read in conjunction with the audited consolidated financial statements and accompanying notes, which appear in our 2024 Form 10-K.

The following is management’s discussion and analysis (“MD&A”) of our results of operations for the three months ended March 31, 2025 and 2024 (herein referred as “Q1 2025” and “Q1 2024”, respectively) and the Company’s financial condition at March 31, 2025 and December 31, 2024.

All amounts are reported in U.S. dollars, unless otherwise noted. Tabular dollars are presented in thousands,