Company: GLRE
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001385613-25-000079
Chunk: 59

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 59
---
,832,49335,321,144Add: In-the-money stock options (1) and all outstanding RSUs775,124773,938590,001602,013594,612Denominator for fully diluted book value per share 34,973,27735,331,38735,421,32535,434,50635,915,756Basic book value per share$19.40 $19.30 $18.26 $19.05 $17.95 Increase (decrease) in basic book value per share$0.10 $1.04 $(0.79)$1.10 $0.27 Increase (decrease) in basic book value per share0.5 %5.7 %(4.1)%6.1 %1.5 %Fully diluted book value per share$18.97 $18.87 $17.95 $18.72 $17.65 Increase (decrease) in fully diluted book value per share$0.10 $0.92 $(0.77)$1.07 $0.26 Increase (decrease) in fully diluted book value per share0.5 %5.1 %(4.1)%6.1 %1.5 %

(1) Assuming net exercise by the grantee.

27

Consolidated Results of Operations

The table below summarizes our consolidated operating results.

Three months ended June 30Six months ended June 3020252024Change20252024ChangeUnderwriting results:Gross premiums written$179,628 $168,975 $10,653 $427,573 $386,233 $41,340 Net premiums written$164,527 $154,143 $10,384 $383,924 $348,220 $35,704 Net premiums earned$161,641 $158,398 $3,243 $330,104 $319,934 $10,170 Net loss and LAE incurred:Current year(97,032)(102,722)5,690 (215,698)(206,647)(9,051)Prior year (1)(3,047)689 (3,736)(7,265)(4,712)(2,553)Net loss and LAE incurred(100,079)(102,033)1,954