Greenlight Re reports Q3 net loss of $13.9M; combined ratio 109.3% from catastrophe losses

GREENLIGHT CAPITAL RE, LTD.

2021-Q3 EPS reported -$0.20 revenue$424,169,000

Net loss of $13.9M ($0.42 per share) vs net income of $2.2M ($0.06) in Q3 2020.
Combined ratio 109.3% (90.3% adjusted for catastrophes) vs 100.4% in Q3 2020.
Catastrophe losses from Hurricane Ida, European floods, and South African riots totaled $25.9M.
Book value per share fell 2.6% to $13.25; share buybacks of 354,411 shares at avg $9.18.
Total investment income of $4.1M, with $10.3M from Innovations investments offsetting Solasglas fund loss of $6.2M.

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