Anthony Mottolese

Eric Hagen

- Greenlight Re reported a **record quarterly net underwriting income of $22.3 million** and its **lowest combined ratio of 86.6%** for the third quarter ended September 30, 2025.  **[1385613_8583c35a3ed14b61883cecc80f043a5e_0]** **[1385613_8583c35a3ed14b61883cecc80f043a5e_1]** 
- Despite strong underwriting performance, the company recorded a **total investment loss of $17.4 million** in Q3 2025, including a **3.2% loss** in the Solasglas investment portfolio, resulting in a **net loss of $4.4 million**, or **-$0.13 per diluted ordinary share**.  **[1385613_8583c35a3ed14b61883cecc80f043a5e_0]** **[1385613_8583c35a3ed14b61883cecc80f043a5e_1]** 
- For the nine months ended September 30, 2025, the company achieved **net income of $25.6 million**, or **$0.74 per diluted ordinary share**, with a combined ratio of **95.4%**.  **[1385613_8583c35a3ed14b61883cecc80f043a5e_0]** 
- The fully diluted book value per share was **$18.90** as of September 30, 2025, a **0.4% decrease** from June 30, 2025, but a **5.3% increase** from December 31, 2024.  **[1385613_8583c35a3ed14b61883cecc80f043a5e_0]**  The company also repurchased **$2.0 million** of shares during Q3.  **[1385613_8583c35a3ed14b61883cecc80f043a5e_0]**

Greenlight Re Reports Q3 2025 Financial Results with Record Underwriting Income and Investment Loss

- Greenlight Capital Re reported a **net loss of $4.4 million**, or **-$0.13 per diluted ordinary share**, for the third quarter ended September 30, 2025, primarily due to a **total investment loss of $17.4 million**.  **[1385613_0001385613-25-000112_pressreleaseearnings2025q3.htm:0]** 
- The company achieved a record quarterly underwriting income of **$22.3 million**, resulting in a combined ratio of **86.6%**, which is the lowest in its history.  **[1385613_0001385613-25-000112_pressreleaseearnings2025q3.htm:0]** 
- Gross premiums written increased **9.5%** to **$184.4 million** in the third quarter of 2025.  **[1385613_0001385613-25-000112_pressreleaseearnings2025q3.htm:0]** 
- Fully diluted book value per share decreased **0.4%** to **$18.90** at September 30, 2025, from **$18.97** at June 30, 2025.  **[1385613_0001385613-25-000112_pressreleaseearnings2025q3.htm:0]** 
- Greenlight Capital Re repurchased **$2.0 million** of shares at an average cost of **$12.88 per share** during the third quarter of 2025.  **[1385613_0001385613-25-000112_pressreleaseearnings2025q3.htm:0]**

GREENLIGHT CAPITAL RE (GLRE)