Company: GLRE
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001385613-25-000079
Chunk: 8

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 2
Chunk 8
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Casualty$20,008 13 %$27,547 19 %$(7,539)$49,732 13 %$46,491 14 %$3,241 Financial16,416 11 %14,362 10 %2,054 40,480 11 %35,369 11 %5,111 Health12 — %— — %12 209 — %215 — %(6)Multiline52,742 35 %35,967 25 %16,775 119,076 32 %91,883 28 %27,193 Property18,055 12 %24,261 17 %(6,206)48,094 13 %51,308 16 %(3,214)Specialty45,100 30 %41,174 29 %3,926 115,451 31 %105,106 32 %10,345 Total$152,333 100 %$143,311 100 %$9,022 $373,042 100 %$330,372 100 %$42,670 

Gross premiums written within our Open Market segment in Q2 2025 increased by $9.0 million or 6.3%, compared to Q2 2024.  The increase was predominantly attributable to the following line of business:

30

•Multiline: The 46.6% increase was driven mostly by growth in our current FAL business bound during Q1 2025, coupled with lower negative revision to our estimated ultimate gross premiums for certain 2023 and 2024 FAL treaties than in Q2 2024. This growth was partially offset by non-renewed business in our commercial auto class and multiline commercial class.

•Casualty: The 27.4% decrease was mainly due to the non-renewal of certain reinsurance programs in our general liability class and multiline casualty class as part of our strategy to reduce our exposure to our casualty line of business.

•Property: The 25.6% decrease was mainly due to negative revision to our estimated ultimate gross premiums for a 2024 quota share reinsurance treaty, compared to Q2 2024. Additionally, we experienced rate reductions on certain renewed excess of loss property treaties, coupled with select decreases in line size compared to