Company: GLRE
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001385613-25-000058
Chunk: 43

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 43
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(122,884)Acquisition costs(40,881)(6,033)48 (46,866)Other underwriting expenses(4,797)(1,561)— (6,358)Deposit interest expense, net(149)— — (149)Underwriting income (loss)(8,949)1,065 90 (7,794)Reconciliation to income before income taxes:Net investment income5,771 448 2,068 8,287 Corporate and other expenses— (572)(4,100)(4,672)Income from investment in Solasglas32,197 32,197 Foreign exchange gains (losses)4,355 4,355 Interest expense(1,464)(1,464)Income (loss) before income taxes$(3,178)$941 $33,146 $30,909 Additional information:Net loss and LAE incurred:  Attritional losses$(80,852)$(10,913)$114 $(91,651)  CAT losses(27,015)— — (27,015)  Prior year adverse (favorable) loss development(4,896)567 111 (4,218)Total net loss and LAE incurred$(112,763)$(10,346)$225 $(122,884)Total allocated assets (1)$459,549 $145,402 $1,547,145 $2,152,096 (1) The Company does not allocate assets to reporting segments, with the exception of restricted cash used to collateralized certain reinsurance transactions, including FAL, and  Innovations-related private investments. 

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Three months ended March 31, 2024:Open MarketInnovationsCorporateTotal ConsolidatedGross premiums written$187,061 $30,068 $129 $217,258 Net premiums written$167,716 $26,244 $117 $194,077 Net premiums earned$131,610 $20,197 $9,729 $161,536 Net loss and LAE incurred(86,700)(13,127)(9,499)(109,326)Acquisition costs(33,579)(6,053)(1,978)(41,610)Other underwriting expenses(5,478)(861)— (6,339)Deposit interest expense, net(876)— —