Business
Greenlight Re Announces First Quarter 2025 Financial Results
Net Income Expands to $29.6 million Despite California Wildfire Losses, Leading to Fully Diluted Book Value Per Share Growth of 5.1% GRAND CAYMAN, Cayman Islands, May 07, 2025 (GLOBE NEWSWIRE) -- Greenlight Capital Re, Ltd. (NASDAQ: GLRE) (“Greenlight Re” or the “Company”) today reported its financial results for the first quarter ended March 31, 2025. First Quarter 2025 Highlights (all comparisons are to first quarter 2024 unless noted otherwise): Gross premiums written increased 14.1% to $247.
About this update from Greenlight Reinsurance, Ltd.
[{"type":"image","alt":"Greenlight Capital Re","displaySize":"","headline":null,"caption":"Greenlight Capital Re","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":89,"url":"https://media.zenfs.com/en/globenewswire.com/b7efd7a855e94451567fdea76d1a74b8"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/pNusqOKEscFkkMiYmeDgGg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTEyNTtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/b7efd7a855e94451567fdea76d1a74b8","width":300,"height":89}},"lazy":false},{"type":"text","content":"Net Income Expands to $29.6 million Despite California Wildfire Losses, Leading to Fully Diluted Book Value Per Share Growth of 5.1% ","length":133,"tagName":"p"},{"type":"text","content":"GRAND CAYMAN, Cayman Islands, May 07, 2025 (GLOBE NEWSWIRE) -- Greenlight Capital Re, Ltd. (NASDAQ: GLRE) (“Greenlight Re” or the “Company”) today reported its financial results for the first quarter ended March 31, 2025.","length":226,"tagName":"p"},{"type":"text","content":"First Quarter 2025 Highlights (all comparisons are to first quarter 2024 unless noted otherwise):","length":97,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Gross premiums written increased 14.1% to $247.9 million;","length":57,"tagName":"p"}]},{"val":[{"type":"text","content":"Net premiums earned increased 4.3% to $168.5 million;","length":53,"tagName":"p"}]},{"val":[{"type":"text","content":"Net underwriting loss of $7.8 million, compared to net underwriting income of $3.4 million;","length":91,"tagName":"p"}]},{"val":[{"type":"text","content":"Combined ratio of 104.6%, compared to 97.9%;","length":44,"tagName":"p"}]},{"val":[{"type":"text","content":"Total investment income of $40.5 million, compared to $31.4 million;","length":68,"tagName":"p"}]},{"val":[{"type":"text","content":"Net income of $29.6 million, or $0.86 per diluted ordinary share, compared to net income of $27.0 million, or $0.78 per diluted ordinary share; and","length":147,"tagName":"p"}]},{"val":[{"type":"text","content":"Fully diluted book value per share increased 5.1% to $18.87, from $17.95 at December 31, 2024.","length":94,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":554,"olType":false},{"type":"text","content":"Greg Richardson, Chief Executive Officer of Greenlight Re, stated, “We delivered strong book value per share growth ...