GLRE Earnings Prediction
The chart below shows how GLRE performed 10 days before and after its earnings report, based on data from the past quarters. Typically, GLRE sees a +0.38% change in stock price 10 days leading up to the earnings, and a +3.26% change 10 days following the report. On the earnings day itself, the stock moves by -0.28%. This data can give you a slight idea of what to expect for the next quarter's release.
GLRE Key Earning Data
GLRE Earnings Analysis
Positive
Net Income and Book Value: Net income for the year was $42.8 million, which generated a 7.2% increase in fully diluted book value per share to $17.95.
Segmented Financial Reporting: For the first time, the company has split its financial results into two segments, Open Market and Innovations, which reflects a strategic approach to growth and transparency.
Innovation Segment Performance: The Innovation segment generated a combined ratio of 95.8% in 2024 on $94.7 million of gross written premium, indicating strong performance in this area.
Favorable Market Conditions: The 1/1 Renewal season showed attractive market conditions, with expectations of a 25% growth in the Funds at Lloyds or FAL book due to favorable opportunities.
Specialty Market Growth Outlook: The specialty market remained disciplined, and the company expects modest growth in its specialty book despite some softening in rates.
Property Book Growth: The property book is expected to grow by approximately 10% over 2024, despite a slight weakening in rates.
Organizational Strengthening and Positioning: The company has strengthened its organization, processes, and balance sheet over the past year, positioning itself well for future opportunities.
Solasglas Fund Performance: The Solasglas Fund returned 9.8% in 2024, demonstrating resilience despite market challenges.
Negative
Net Underwriting Loss: The company reported a net underwriting loss of $18 million for Q4 2024, resulting in a combined ratio of 112.1%.
Investment Loss Impact: Investment losses from Solasglas amounted to $8.8 million, contributing to a net loss of $27.4 million for the quarter.
Catastrophe Losses Overview: Catastrophe losses totaled $17.6 million in Q4, with Hurricane Milton accounting for $7.5 million of that amount.
Reserves Impact from Conflict: A significant increase of $15 million in reserves related to the Russia-Ukraine conflict negatively impacted the company's financials.
Underwriting Loss Analysis: The underwriting loss for the full year 2024 was $8.2 million, with a combined ratio of 101.4%, indicating a decline in performance compared to previous years.
Open Market Combined Ratio: The Open Market segment's combined ratio for Q4 was 111.1%, significantly higher than the 90.9% reported in the same period in 2023, primarily due to increased cat losses and aviation reserves.
Innovations Segment Premium Decline: The Innovations segment saw a decrease in net earned premiums by 18.1% in Q4, indicating a reduction in business activity.
Homeowners Program Loss: The runoff business related to the homeowners property program generated a loss of $16.8 million, further straining overall financial performance.
GLRE FAQs
How does GLRE typically perform around its earnings report dates?
GLRE's stock performance around earnings reports can vary, but historical data shows specific patterns, such as a +0.38% change leading up to the report and a +3.26% change in the 10 days following the release.
Is Greenlight Capital Re Ltd (GLRE) Q4 2024 Earnings Call Summary positive or negative?
How can historical earnings data help predict future stock performance?
GLRE Earning Call Sentiment
Greenlight Capital Re, Ltd. (GLRE) Q4 2024 Earnings Call Transcript
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