Greenlight Capital Re Reports Strong Q1 2025 Results

Greenlight Capital Re ( (GLRE) ) has released its Q1 earnings. Here is a breakdown of the information Greenlight Capital Re presented to its investors.

Greenlight Capital Re, Ltd., a company specializing in multiline property and casualty insurance and reinsurance, operates through its entities in the Cayman Islands and Ireland, and its Lloyd’s platform. The company is known for its innovative investment strategies that aim to achieve higher long-term returns compared to traditional reinsurance companies.

In the first quarter of 2025, Greenlight Capital Re reported a net income of $29.6 million, marking an increase from the previous year despite facing significant losses from California wildfires. The company’s fully diluted book value per share grew by 5.1%, reflecting strong performance in its Solasglas investment portfolio.

Key financial highlights include a 14.1% increase in gross premiums written to $247.9 million and a 4.3% rise in net premiums earned to $168.5 million. However, the company experienced a net underwriting loss of $7.8 million, a shift from the previous year’s income, resulting in a combined ratio of 104.6%. Investment income was robust at $40.5 million, contributing to the overall positive financial outcome.

Despite the challenges posed by the California wildfires, Greenlight Re’s strategic investment approach, particularly through Solasglas, has positioned the company well in the current volatile market. The management remains optimistic about future investment opportunities as they navigate through the anticipated bear market.

Looking forward, Greenlight Capital Re aims to continue enhancing shareholder value through its innovative investment strategies and disciplined underwriting practices, while remaining vigilant in managing risks associated with market volatility.