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Greenlight Re Announces Financial Results for Fourth Quarter and Year-End December 31, 2025
Improves Q4 Combined Ratio to 92.1%, Achieves Record Full-Year Underwriting Income. GRAND CAYMAN, Cayman Islands, March 09, 2026 (GLOBE NEWSWIRE) --
About this update from Greenlight Reinsurance, Ltd.
[{"type":"text","content":"Improves Q4 Combined Ratio to 92.1%, Achieves Record Full-Year Underwriting Income. GRAND CAYMAN, Cayman Islands, March 09, 2026 (GLOBE NEWSWIRE) -- Greenlight Capital Re, Ltd. (NASDAQ: GLRE) (“Greenlight Re” or the “Company”) today reported its financial results for the fourth quarter and year ended December 31, 2025. Fourth Quarter 2025 Highlights (all comparisons are to fourth quarter 2024 unless noted otherwise): Gross premiums written increased 12% to $161.3 million;Net premiums earned increased 12% to $165.6 million;Net underwriting income of $13.0 million, compared to an underwriting loss of $18.0 million;Combined ratio of 92.1%, compared to 112.1%;Total investment income of $44.8 million, compared to $2.6 million;Net income of $49.3 million, or $1.44 per diluted ordinary share, compared to a net loss of $27.4 million, or $(0.81) per diluted ordinary share;Repurchased $2.8 million of shares at an average cost of $14.02 per share; andFully diluted book value per share increased 8.1% to $20.43, from $18.90 at September 30, 2025. Year ended December 31, 2025 Highlights (all comparisons are to the same period in 2024): Gross premiums written increased 11% to $773.3 million;Net premiums earned increased 7% to $661.1 million;Net underwriting income of $35.7 million compared to an underwriting loss of $8.2 million;Combined ratio of 94.6%, compared to 101.4%;Total investment income of $60.2 million, compared to $79.6 million;Net income of $74.8 million, or $2.17 per diluted ordinary share, compared to $42.8 million, or $1.24 per diluted ordinary share;Repurchased $9.8 million of shares at an average cost of $13.76 per share; andFully diluted book value per share increased 13.8% to $20.43, from $17.95 at December 31, 2024. Greg Richardson, Chief Executive Officer of Greenlight Re, stated, “We are proud of our fourth quarter 2025 underwriting results, which resulted in a combined ratio of 92.1%, allowing us to close the year with a record underwriting income and a combined ratio of 94.6%. Growth in gross premiums written and net premiums earned, coupled with our expanded investment income and our strong combined ratio, resulted in book value growth of 8.1% in the fourth quarter.” David Einhorn, Chairman of the Board of Directors, said, “Greenlight Re had a solid year, with good results on both sides of the balance sheet; it grew fu...