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Greenlight Capital Re, Ltd.

Greenlight Capital Re, Ltd.

NASDAQ•GLRE
CEO: Mr. Faramarz Romer
Sector: Financial Services
Industry: Insurance - Reinsurance
Listing Date: 2007-05-24
Greenlight Capital Re, Ltd., through its subsidiaries, operates as a property and casualty reinsurance company worldwide. The company offers various property reinsurance products and services, including automobile physical damage, personal lines, and commercial lines. It also provides casualty reinsurance products and services comprising general liability, motor liability, professional liability, and worker's compensation; and accident and health, transactional liability, mortgage insurance, surety, trade credit, marine, and energy, as well as other specialty products, such as aviation, crop, cyber, political, and terrorism products. The company markets its products through reinsurance brokers. Greenlight Capital Re, Ltd. was incorporated in 2004 and is headquartered in Grand Cayman, the Cayman Islands.
Contact Information
65 Market Street, Suite 1207, Jasmine Court Camana Bay PO Box 31110, Grand Cayman, KY1-1205, Cayman Islands
205-291-3440
greenlightre.com
Market Cap
$417.78M
P/E (TTM)
-221.5
8.3
Dividend Yield
--
52W High
$15.82
52W Low
$11.57
52W Range
16%
3.7
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 3.7 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$146.07M-22.31%
4-Quarter Trend

EPS

-$0.13-112.62%
4-Quarter Trend

FCF

$31.18M-24.50%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Underwriting Income Significantly Improved Q3 underwriting income reached $22.3M, a $16.2M increase; YTD underwriting income was $22.6M, up $12.8M over prior year.
Net Premiums Earned Growth YTD net premiums earned totaled $495.5M, reflecting 4.8% growth, driven by Open Market segment expansion.
Total Equity Increased Total shareholders' equity grew to $658.9M by September 30, 2025, up $23.0M from year-end 2024.
Debt Obligations Reduced Total debt decreased 42.8% to $34.7M by September 30, 2025, due to repayments from underwriting cash flow.

Risk Factors

Net Income Swings Sharply Q3 2025 reported net loss of $4.4M, contrasting Q3 2024 net income of $35.2M, driven by investment performance.
Investment Portfolio Underperformance Solasglas reported Q3 net loss of 3.2%, contributing to $17.4M total investment loss for the quarter.
Prior Year Reserve Strengthening Open Market segment recorded $46.4M adverse prior year reserve development YTD 2025 due to inflation trends.
Significant CAT Losses Incurred Company incurred $27.0M CAT losses YTD 2025 related to California wildfires, adding uncertainty to loss estimates.

Outlook

Reinsurance Market Competition Pressures Increased competition in Open Market segment continues pressuring headline rates across various underwriting classes.
Inflationary Trends Expected To Persist Management anticipates persistent inflationary trends impacting the underwriting portfolio and investment positioning strategies.
Capital Base Sufficiency Expected Expect existing capital base and internally generated funds sufficient to implement business strategy for foreseeable future.
Share Repurchase Plan Re-approved Board re-approved share repurchase plan authorizing up to $25.0M ordinary shares repurchases until June 30, 2026.

Peer Comparison

Revenue (TTM)

Greenlight Capital Re, Ltd.GLRE
$545.25M
-19.9%
Global Indemnity Group, LLCGBLI
$441.82M
-0.0%
Kearny Financial Corp.KRNY
$267.54M
-18.8%

Gross Margin (Latest Quarter)

PennantPark Investment CorporationPNNT
76.5%
-135.7 pp
Greenlight Capital Re, Ltd.GLRE
0.0%
+0.0 pp
Carter Bankshares, Inc.CARE
0.0%
+0.0 pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
AROW$510.37M14.88.4%0.6%
RRBI$442.26M10.712.1%0.1%
FBIZ$432.18M8.215.0%0.0%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
+169.2%
Strong Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 3, 2025|
    Revenue: $146.07M-22.3%
    |
    EPS: $-0.13-112.6%
    Miss

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 4, 2025|
    Revenue: $178.38M+4.0%
    |
    EPS: $0.01-95.7%
    Beat

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 7, 2025|
    Revenue: $213.30M+22.1%
    |
    EPS: $0.87+10.1%
    Beat

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Mar 10, 2025|
    Revenue: $667.96M+7.0%
    |
    EPS: $1.26-50.6%
    Beat

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 4, 2024|
    Revenue: $188.01M+12.6%
    |
    EPS: $1.03+157.5%
    Beat

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 6, 2024|
    Revenue: $171.47M+9.3%
    |
    EPS: $0.23-84.2%
    Miss

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 8, 2024|
    Revenue: $174.71M+10.5%
    |
    EPS: $0.79+338.9%
    N/A

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Mar 5, 2024|
    Revenue: $624.28M+50.6%
    |
    EPS: $2.55+240.0%
    Beat