Company: GLRE
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0001385613-25-000007
Chunk: 388

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-03-10
Form: 10-K
Item: Item 8
Chunk 388
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 Company has reported separately “Underwriting expenses” from “Corporate and other expenses” in the consolidated statements of operations, which were previously combined and reported as “General and administrative expenses”. This resulted in no change to the previously reported total expenses or net income.  •The Company has reclassified investment-related income from Lloyd’s syndicates which was previously presented in the consolidated  statements of operations under the caption “Other income, net” to “Net investment income”. This resulted in no change to the previously reported total revenues or net income.  Additionally, the Company has revised its reporting segments to Open Market and Innovations (see Note 17). Prior year comparatives have been recast to conform with the new reportable segments.In the opinion of management, these financial statements reflect all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the Company’s financial position and results of operations as at the end of December 31, 2024 and for the comparative periods presented. Tabular dollar are in thousands, with the exception of per share amounts or otherwise noted.  All amounts are reported in U.S. dollars.

F-9

2.   SIGNIFICANT ACCOUNTING POLICIES  

The Company’s significant accounting policies are as follows:Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the period. Actual results could differ from these estimates. The Company’s significant estimates include:•loss and loss adjustment expense reserves;•premiums written and earned and related premium receivable, net of expected credit losses;•reinsurance recoverable on unpaid losses and loss adjustment expenses, net of expected credit losses; and•valuation of investments, including impairments.InvestmentsInvestment in related party investment fundThe Company records its investment in the related party investment fund based on fair value using the net asset value practical expedient, with the Company’s share of the fund’s net income (loss) reported as “Income (loss) from investment in related party investment fund” in the consolidated statements of operations.Other investmentsThe Company’s other investments include short-term investments and private investments and unlisted equity securities without readily determinable fair values.  Short-term investments are measured at amortized cost, which approximates fair value. These include certificate of deposit and other financial instruments with original