GLRE Overview

Rating Upgrades: AM Best has upgraded the Financial Strength Rating of Greenlight Reinsurance, Ltd. and Greenlight Reinsurance Ireland to A (Excellent) and the Long-Term Issuer Credit Ratings to "a" (Excellent), while also upgrading Greenlight Capital Re, Ltd. to "bbb" (Good).

Performance Improvement: The upgrades reflect GLRE's improved operating performance, stabilized investment results, and profitable underwriting results, with 2025 showing some of the strongest results in the company's history.

Business Profile and Risk Management: AM Best assesses GLRE's business profile as neutral, noting its long tenure in the reinsurance market and appropriate enterprise risk management practices that align with its business complexity.

Company Overview: Greenlight Reinsurance, incorporated in the Cayman Islands in 2004, provides global property/casualty reinsurance and has diversified its operations, including launching the Greenlight Re Innovations Syndicate 3456 at Lloyd's in 2022.

AM Best Ratings Upgrade: Greenlight Capital Re, Ltd. received an upgrade from AM Best, raising its Financial Strength Rating to "A" and Long-Term Issuer Credit Rating to "a" for its subsidiaries, reflecting a strong balance sheet and improved return metrics.

CEO's Statement: CEO Greg Richardson expressed pride in the upgraded rating, attributing it to the company's strategic efforts and record quarterly underwriting performance, positioning Greenlight Re for future market opportunities.

Forward-Looking Statements: The release includes forward-looking statements that involve risks and uncertainties, such as potential rating downgrades and investment performance, which could affect actual results.

Company Overview: Greenlight Re provides multiline property and casualty insurance and reinsurance, complemented by a non-traditional investment approach and an innovations unit that supports technology in the (re)insurance sector.