Company: GLRE
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001385613-25-000079
Chunk: 22

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 2
Chunk 22
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 $94.0 million from $85.8 million at December 31, 2024.  See Note 8 “Retrocession” of the condensed consolidated financial statements for a description of the credit risk associated with our retrocessionaires.

Probable Maximum Loss (“PML”)

At July 1, 2025, our estimated largest PML at a 1-in-250-year return period for a single event, and in aggregate, was $132.5 million and $145.8 million, respectively, both relating to the peril of North Atlantic Hurricane, compared to $122.9 million and $136.0 million, respectively, at April 1, 2025. 

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The below table contains the expected modeled loss for each of our peak peril regions and sub-regions for both a single event loss and aggregate loss measures at the 1-in-250-year return period.

July 1, 2025Net 1-in-250 Year Return PeriodPerilSingle Event LossAggregate LossNorth Atlantic Hurricane$132,534 $145,809 Southeast Hurricane116,137 117,635 Gulf of Mexico Hurricane66,906 69,859 Northeast Hurricane64,499 64,499 North America Earthquake126,814 127,708 California Earthquake108,933 109,604        Pacific Northwest Earthquake47,689 47,689 New Madrid Earthquake17,433 17,433 Japan Earthquake36,178 37,078 Japan Windstorm22,367 23,259 Europe Windstorm68,621 73,912 

Debt

Our total debt decreased by $1.9 million, or 3.1%, to $58.9 million from $60.7 million at December 31, 2024 due to the quarterly loan installment payment. Refer to Note 9 “Debt and Credit Facilities” of the condensed consolidated financial statements for further information.

Total shareholders’ equity

Total shareholders’ equity increased by $27.4 million to $663.3 million, compared to $635.9 million at December 31, 2024. The increase was primarily due to the net income of $30.0 million reported for the period, coupled with share-based compensation adjustment to additional paid-in capital. This was partially offset by $5.0 million of stock repurchases during YTD 2025.

Liquidity and Capital Resources

Refer to the “L