Greenlight Capital Re reports Q4 EPS (81c) vs. (50c) last year
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 10 2025
0mins
Financial Performance Overview: Gross premiums written increased by 28% to $143.8 million, while net premiums earned rose by 7.8% to $148.1 million; however, there was a net underwriting loss of $18 million compared to a profit of $11.8 million last year, resulting in a combined ratio of 112.1%.
Net Income and Investment Income: The company reported a net loss of $27.4 million or 81 cents per diluted share, down from a net income of $17.6 million or 50 cents per diluted share; total investment income also declined significantly from $14.1 million to $2.6 million.
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Analyst Views on GLRE
About GLRE
Greenlight Capital Re, Ltd provides multiline property and casualty insurance and reinsurance through its licensed and regulated reinsurance entities in the Cayman Islands and Ireland, and its Lloyd’s platform, Greenlight Innovation Syndicate 3456. The Company’s segments include Open Market and Innovations. In the Open Market segment, the Company underwrites reinsurance business, sourced through the brokerage distribution channels and Lloyd’s. The Company writes treaty reinsurance on a proportional and non-proportional basis. Its lines of business include casualty, financial, health, multiline, property and specialty. In the Innovations segment, the Company provides reinsurance capacity to startup companies and managing general agents (MGAs) based globally, sourced mainly through direct placements with its strategic partners. This segment also includes business written by Syndicate 3456. Its lines of business include casualty, financial, health, multiline and specialty.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Greenlight Capital Re Shares Hit Oversold Levels
- Oversold Signal: Greenlight Capital Re (GLRE) shares entered oversold territory on Wednesday with an RSI of 27.1, indicating that the recent heavy selling may be exhausting, prompting bullish investors to seek buying opportunities.
- Price Fluctuation: GLRE shares hit a low of $16.29, with the current trading price at $16.33, showing a significant recovery from the 52-week low of $11.565, yet still below the 52-week high of $19.385, reflecting market uncertainty.
- Market Comparison: Compared to the S&P 500 ETF (SPY) with an RSI of 74.2, GLRE's oversold condition may attract investors looking for a rebound, highlighting a divergence in market sentiment.
- Investor Strategy: With the oversold signal for GLRE shares, investors may reassess their strategies and consider accumulating shares during price corrections, aiming to profit from potential future market rebounds.
See More
Greenlight Re (GLRE) Q2 2025 Earnings Transcript
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Greenlight Re (GLRE) Q1 2026 Earnings Transcript
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Greenlight Capital Re Reports Q1 2026 Earnings Highlights
- Net Income Growth: In Q1 2026, Greenlight Capital Re reported a net income of $35.8 million, driving a 4.7% increase in fully diluted book value per share, reflecting the company's strong capabilities in investment performance and underwriting profit.
- Underwriting Profit Analysis: The company achieved an underwriting profit of $6.2 million in the first quarter, with a combined ratio of 96.0%, despite a $5 million provision linked to the Middle East conflict, demonstrating robust performance in a challenging market.
- Innovation Segment Growth: The Innovations segment saw gross written premiums increase by 73% year-over-year to $47.6 million, indicating strong momentum from organic growth in the existing client portfolio and new business opportunities, which are expected to continue driving future revenue growth.
- Share Repurchase Plan: Year-to-date, the company has returned $14.5 million of capital to shareholders through its Board-approved share repurchase plan, and with a new authorization effective May 15, 2026, plans to repurchase an additional $40 million in stock, further enhancing shareholder value.
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Greenlight Capital Q1 2026 Financial Highlights
- Premium Revenue Decline: In Q1 2026, Greenlight Capital reported an 8% decrease in gross premiums written to $227.9 million, reflecting increased market competition and customer attrition, which could impact future revenue growth.
- Underwriting Income Improvement: The net underwriting income of $6.2 million marks a significant turnaround from a $7.8 million loss in Q1 2025, indicating effective adjustments in risk management and underwriting strategies that enhance financial stability.
- Stable Investment Income: Total investment income stood at $40.4 million, a slight decrease of 0.2%, suggesting that the company has maintained stability in its investment portfolio management despite potential market volatility affecting short-term returns.
- Share Repurchase Program: The company repurchased $5 million of ordinary shares at an average cost of $16.70 per share during the quarter, demonstrating management's confidence in the company's long-term value while also helping to boost earnings per share.
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GREENLIGHT CAPITAL RE LTD - SUBSIDIARY SIGNS MASTER LETTER OF CREDIT AGREEMENT WITH CIBC BANK USA ON APRIL 1, 2026 - SEC FILING
Greenlight Capital's Financial Agreement: Greenlight Capital has entered into a Master Letter of Credit Agreement with CIBC Bank USA, effective April 1, 2026.
Regulatory Filing: The agreement has been filed with the SEC, indicating compliance with regulatory requirements.
See More
Greenlight Capital Re Shares Hit Oversold Levels
- Oversold Signal: Greenlight Capital Re (GLRE) shares entered oversold territory on Wednesday with an RSI of 27.1, indicating that the recent heavy selling may be exhausting, prompting bullish investors to seek buying opportunities.
- Price Fluctuation: GLRE shares hit a low of $16.29, with the current trading price at $16.33, showing a significant recovery from the 52-week low of $11.565, yet still below the 52-week high of $19.385, reflecting market uncertainty.
- Market Comparison: Compared to the S&P 500 ETF (SPY) with an RSI of 74.2, GLRE's oversold condition may attract investors looking for a rebound, highlighting a divergence in market sentiment.
- Investor Strategy: With the oversold signal for GLRE shares, investors may reassess their strategies and consider accumulating shares during price corrections, aiming to profit from potential future market rebounds.
See More
Greenlight Re (GLRE) Q2 2025 Earnings Transcript
See More
Greenlight Re (GLRE) Q1 2026 Earnings Transcript
See More
Greenlight Capital Re Reports Q1 2026 Earnings Highlights
- Net Income Growth: In Q1 2026, Greenlight Capital Re reported a net income of $35.8 million, driving a 4.7% increase in fully diluted book value per share, reflecting the company's strong capabilities in investment performance and underwriting profit.
- Underwriting Profit Analysis: The company achieved an underwriting profit of $6.2 million in the first quarter, with a combined ratio of 96.0%, despite a $5 million provision linked to the Middle East conflict, demonstrating robust performance in a challenging market.
- Innovation Segment Growth: The Innovations segment saw gross written premiums increase by 73% year-over-year to $47.6 million, indicating strong momentum from organic growth in the existing client portfolio and new business opportunities, which are expected to continue driving future revenue growth.
- Share Repurchase Plan: Year-to-date, the company has returned $14.5 million of capital to shareholders through its Board-approved share repurchase plan, and with a new authorization effective May 15, 2026, plans to repurchase an additional $40 million in stock, further enhancing shareholder value.
See More
Greenlight Capital Q1 2026 Financial Highlights
- Premium Revenue Decline: In Q1 2026, Greenlight Capital reported an 8% decrease in gross premiums written to $227.9 million, reflecting increased market competition and customer attrition, which could impact future revenue growth.
- Underwriting Income Improvement: The net underwriting income of $6.2 million marks a significant turnaround from a $7.8 million loss in Q1 2025, indicating effective adjustments in risk management and underwriting strategies that enhance financial stability.
- Stable Investment Income: Total investment income stood at $40.4 million, a slight decrease of 0.2%, suggesting that the company has maintained stability in its investment portfolio management despite potential market volatility affecting short-term returns.
- Share Repurchase Program: The company repurchased $5 million of ordinary shares at an average cost of $16.70 per share during the quarter, demonstrating management's confidence in the company's long-term value while also helping to boost earnings per share.
See More
GREENLIGHT CAPITAL RE LTD - SUBSIDIARY SIGNS MASTER LETTER OF CREDIT AGREEMENT WITH CIBC BANK USA ON APRIL 1, 2026 - SEC FILING
Greenlight Capital's Financial Agreement: Greenlight Capital has entered into a Master Letter of Credit Agreement with CIBC Bank USA, effective April 1, 2026.
Regulatory Filing: The agreement has been filed with the SEC, indicating compliance with regulatory requirements.
See More
