earnings
confidence high
sentiment negative
materiality 0.75
Greenlight Re reports Q3 net loss $18.5M, combined ratio 115.4%, book value down 3.9%
GREENLIGHT CAPITAL RE, LTD.
2022-Q3 EPS reported
-$0.28
revenue$381,170,000
- Net loss of $18.5M ($0.56/diluted share) vs loss of $13.9M ($0.42) in Q3 2021.
- Combined ratio worsened to 115.4% from 109.3%, including $19.5M from Hurricane Ian and $3.2M from typhoons.
- Gross premiums written grew 20.5% to $155.1M, driven by personal property and general liability growth.
- Fully diluted book value per share fell 3.9% to $13.55; total investment income rose to $11.6M (vs $4.1M).