Company: GLRE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001385613-25-000113
Chunk: 43

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 43
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.During the three and nine months ended September 30, 2025, the Company recognized impairment charges of $16.4 million and $17.9 million, respectively, related to certain private investments and unlisted securities for which qualitative factors indicated that the fair value was less than carrying amount. The Company used valuation models to estimate the fair value, which incorporated significant unobservable inputs including projected cash flows provided by the investee’s management, discount rates, growth rates, volatility assumptions, and current market multiples.Debt and convertible debt securitiesDuring the three and nine months ended September 30, 2024, the Company recognized impairment charges of nil and $1.1 million, respectively, related to certain convertible debt securities.Net investment incomeThe following table summarizes the change in unrealized gains (losses) and the realized gains (losses) for the Company’s other investments, which are included in “Net investment income (loss)” in the condensed consolidated statements of operations (see Note 13):

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Three months ended September 30Nine months ended September 302025202420252024Gross realized gains$653 $— $658 $— Gross realized losses— — — (1,332)Net realized gains (losses)$653 $— $658 $(1,332)Change in unrealized gains(12,530)— (12,389)1,008 Net realized and unrealized gains (losses) on other investments$(11,877)$— $(11,731)$(324)

5.       RESTRICTED CASH AND CASH EQUIVALENTS

The following table shows the breakdown of the Company’s restricted cash and cash equivalents, along with a reconciliation of the total cash, cash equivalents, and restricted cash reported in the condensed consolidated statements of cash flows: September 30, 2025December 31, 2024Restricted cash and cash equivalents:  Cash securing trust accounts$266,493 $256,796   Cash securing letters of credit issued302,815 312,855   Cash securing debt facility10,000 10,000   Other7,136 4,751 Total restricted cash and cash equivalents586,444 584,402 Cash and cash equivalents68,789 64,685 Total cash, cash equivalents, and restricted cash$655,233 $649,087 

6.      FAIR VALUE MEASUREMENTS

Assets