Greenlight Re Q1 net income $29.6M ($0.86/diluted), book value per share up 5.1%

GREENLIGHT CAPITAL RE, LTD.

2025-Q1 EPS reported $0.86 revenue$213,302,000

Gross premiums written +14.1% to $247.9M; net premiums earned +4.3% to $168.5M.
Net underwriting loss of $7.8M vs income of $3.4M; combined ratio 104.6% (97.9% prior).
California wildfires contributed 14 points to combined ratio, in line with prior estimates.
Investment income $40.5M (+29%); Solasglas portfolio returned 7.2% in the quarter.
Fully diluted book value per share $18.87, up from $17.95 at Dec 31, 2024.

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