Company: GLRE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001385613-25-000113
Chunk: 71

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 71
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 30Nine months ended September 302025% Point Change20242025% Point Change2024Current year:  Attritional loss ratio48.5 %(8.3)56.8 %52.5 %(2.8)55.3 %  Large event loss ratio4.0 %2.4 1.6 %2.9 %0.3 2.6 %  CAT event loss ratio— %(5.9)5.9 %6.2 %1.6 4.6 %Current year loss ratio52.5 %(11.8)64.3 %61.6 %(0.9)62.5 %Prior year reserve development ratio0.6 %4.8 (4.2)%1.1 %2.1 (1.0)%Loss ratio53.1 %(7.0)60.1 %62.8 %1.2 61.5 %

Current Year Loss Ratio

Q3 2025 vs Q3 2024

The Q3 2025 current year loss ratio decreased by 11.8 percentage points to 52.5%, compared to Q3 2024, driven mainly by improved attritional loss ratio and no CAT event losses and partially offset by an increase in large event losses.

The significant improvement in our attritional loss ratio was predominantly driven by lower volume of expected claims in our aviation, energy, marine, and whole account marine and energy classes within our specialty line of business. This was partially offset by an increase in attritional loss ratio in our financial lines class in response to poor performance relating to our transactional liability business.

During Q3 2025, we were notified of three large event losses for a total of $5.7 million in our specialty and property lines; whereas we incurred one large event loss of $2.1 million in our property line during Q3 2024.

In Q3 2024, we incurred CAT losses of $7.5 million relating to Hurricane Helene.

YTD 2025 vs YTD 2024

The YTD 2025 current year loss ratio decreased by 0.9 percentage points to 61.6%, compared to YTD 2024, predominantly due to improved attritional loss ratio, offset partially by an increase in CAT loss ratio and, to a lesser extent, large event loss ratio