Highest-materiality recent filing
Greenlight Re posts Q2 net loss of $29.6M; enters share repurchase agreement with Einhorn trust
Q2 net loss $29.6M ($0.89 diluted EPS) vs net income $0.3M in Q2 2025; combined ratio 100.1% vs 95.0%.
All 11 director nominees elected with majority support; David Einhorn received 20.5M for, 960K against.
Agreement to repurchase shares from Einhorn trust to keep his ownership percentage constant, avoiding adverse tax consequences.
Greenlight Re Q1 net income $35.8M ($1.05 EPS); combined ratio improves to 96.0%
Net income $35.8M ($1.05 diluted EPS) vs $29.6M ($0.86) year ago.
Greenlight Capital Re enters $300M LC facilities; GC Sigmon rescinds resignation
Entered $300M committed LC facilities with CIBC: $50M for GRIL, $250M for Greenlight Re.
Greenlight Re Q4 net income $49.3M, combined ratio 92.1%, book value up 8.1%
Q4 net income $49.3M ($1.44 diluted EPS) vs net loss $27.4M ($0.81 loss) in Q4 2024.
Greenlight Capital Re GC/Chief Compliance Officer David Sigmon to resign effective May 1, 2026
David Sigmon notified of resignation as General Counsel, Chief Compliance Officer and Corporate Secretary on Feb 2, 2026.
Greenlight Re posts record Q3 combined ratio 86.6%; net loss $4.4M on investment losses
Net underwriting income $22.3M, combined ratio 86.6% (record low) vs 95.9% Q3 2024.
Greenlight Capital Re enters $50M revolving credit facility and £50M LC facility
Refinanced $50M CIBC revolver due Sept 3, 2030 at Term SOFR+3.25%; repaid existing $59M term loan.
Greenlight Re Q2 2025: Combined ratio 95%, net income $0.3M from investment loss
Gross premiums written up 6.3% to $179.6M; net underwriting income $8.1M vs $0.3M YoY.
Greenlight Re Q1 net income $29.6M ($0.86/diluted), book value per share up 5.1%
Gross premiums written +14.1% to $247.9M; net premiums earned +4.3% to $168.5M.
Greenlight Re Q4 net loss $27.4M; underwriting loss $18M, combined ratio 112% vs 91% prior year
Q4 gross written premiums +28% to $143.8M, but net underwriting loss $18M vs $11.8M income in Q4 2023.
Greenlight Capital Re secures $100M HSBC and $275M Citibank uncommitted LOCs
Greenlight Reinsurance entered a $100M uncommitted LOC with HSBC, secured by cash collateral at HSBC Continental Europe.
Greenlight Capital Re holds 2024 Investor Day; no specific financial data disclosed
Company hosted investor meeting on Nov 19, 2024, in New York with management presentations.
Greenlight Re Q3 net income $35.2M ($1.01/diluted); combined ratio 95.9%, book value up 6.1%
Gross premiums written $168.3M down 8% YoY; net premiums earned $151.9M down 6.9%.
Greenlight Re Q2 net income drops 84% to $8.0M on weaker investment income
Gross premiums written grew 9.1% to $169.0M; net premiums earned up 13.2% to $158.4M.
Greenlight Capital Re amends investment cap ratio in Solasglas LP agreement to 0.70
Amendment No. 2 changes Additional Investment Ratio to (0.70 × GLRE Surplus) / (sum of Greenlight Re and GRIL capital accounts).
Greenlight Capital Re shareholders elect nine directors, ratify auditor, approve say-on-pay
All nine director nominees elected: Greg Richardson (21.6M for), David Einhorn (21.5M for), Johnny Ferrari (22.3M for), et al.
Greenlight Capital Re extends shareholders' agreement with David Einhorn to 2034
Amendment No. 3 extends the Shareholders' Agreement termination date to June 30, 2034.
Greenlight Re reports Q1 net income of $27.0M; gross premiums up 16.5% to $217.3M
Net income $27.0M ($0.78 diluted EPS) vs $5.9M ($0.17) in Q1 2023; underwriting income $3.4M.
Citi terminated commitment under $275M letter of credit facility; effective Aug 20, 2024, after 120-day notice.
Greenlight Re FY2023 record underwriting income $32M; book value +16.8% to $16.74
Full year net income $86.8M ($2.50 diluted EPS) vs $25.3M in 2022, up 243%.
Greenlight Re enters $200M letter of credit facility with CIBC Bank; includes $30M revolver
$200M LC facility ($30M sublimit for unsecured LCs) with CIBC Bank USA.
CEO Simon Burton to depart Dec 31; Greg Richardson named successor; Q3 net income $13.5M
Simon Burton will step down as CEO and director effective Dec 31, 2023; Greg Richardson appointed CEO and board member effective Jan 1, 2024.
Greenlight Re Q2 net income triples to $49.9M; book value per share up 9.9%
Net income $49.9M ($1.32 diluted EPS) vs $14.8M ($0.37) a year ago; total investment income $42.2M.
Greenlight Capital Re shareholders approve elimination of dual-class share structure
Proposal to re-designate Class B shares as Class A and eliminate dual-class structure passed with 48.7M Class A and 8.7M Class B votes.
Greenlight Capital Re enters $75M term loan facility; refinances convertible notes due Aug 2023
Delayed draw term loan of $75M; matures Aug 1, 2026; interest at Term SOFR + 3.50% p.a.
Greenlight Re reports Q1 net income $5.9M; gross premiums written up 27.8%
Net income $5.9M (diluted EPS $0.17) vs net loss $5.7M in Q1 2022.
Greenlight Capital Re names Faramarz Romer CFO, succeeding Neil Greenspan
Effective April 1, 2023, Faramarz Romer (current CAO/Treasurer) becomes CFO.
Greenlight Re Q4 net income $34.8M, book value up 7.7% to $14.59
Q4 net income $34.8M ($0.91/diluted share) vs $24.3M ($0.71) in Q4 2021; combined ratio 94.2% vs 96.4%.
Greenlight Capital Re amends Solasglas LP agreement; investment cap set at 60% of GLRE surplus
Amendment changes Additional Investment Ratio to (0.60 × GLRE Surplus) ÷ (sum of Capital Accounts of Greenlight Re and GRIL).
Investor meeting held Nov 17, 2022 in NYC; presentation furnished as Exhibit 99.1.
Greenlight Re reports Q3 net loss $18.5M, combined ratio 115.4%, book value down 3.9%
Net loss of $18.5M ($0.56/diluted share) vs loss of $13.9M ($0.42) in Q3 2021.
Greenlight Re GC & CLO Laura Accurso to depart Dec 31; $1M severance + consulting
Laura Accurso will separate as General Counsel, Corporate Secretary, and CCO effective Dec 31, 2022.
Greenlight Re to host investor day in New York on November 17, 2022
Investor day scheduled for Nov 17, 2022 at 12pm ET in New York City.
Greenlight Re promotes three underwriters; CEO Burton relinquishes CUO title
Regan Cairns promoted to CUO of Greenlight Reinsurance Ltd., focusing on Financial Risk, North American Casualty, and Property.
Greenlight Re Q2 net income $14.8M ($0.37 EPS); combined ratio improves to 91.6%
Net income $14.8M ($0.37/diluted) vs $0.6M a year ago; book value per share up 3.3% to $14.10.
All nine director nominees elected to Greenlight Capital Re board, including David Einhorn and Simon Burton.
Greenlight Re Q1 net loss $5.7M; combined ratio 106.2%; book value down 2.4%
Net loss of $5.7M ($0.17 per share) vs net income of $6.5M in Q1 2021.
Greenlight Re Q4 net income $24.3M; book value per share up 5.6% to $13.99
Net income $24.3M ($0.71/sh) vs $42.0M in Q4 2020; combined ratio improved to 96.4% from 101.0%.
Greenlight Capital Re amends CEO Simon Burton's employment agreement, raises base salary to $800k
Annual base salary of $800,000, target bonus 100% of base, equity target 200% of base.
Greenlight Re sets 2022 annual meeting for July 26, announces proposal deadlines
Annual Meeting scheduled for July 26, 2022; time and location in proxy materials.
Greenlight Capital Re gets Lloyd's nod for insurtech syndicate 3456
Received in-principle approval from Lloyd's to establish Syndicate 3456 under 'Syndicate-in-a-box' model.
Greenlight Re discloses Dec 31 2021 investment portfolio of $302M and top holdings
Investment portfolio, including GP interest, was $302M at Dec 31, 2021; $236M excluding GP interest.
Greenlight Re reports Q3 net loss of $13.9M; combined ratio 109.3% from catastrophe losses
Net loss of $13.9M ($0.42 per share) vs net income of $2.2M ($0.06) in Q3 2020.
Greenlight Capital Re appoints Deloitte as auditor; BDO dismissed after 2021 10-K
Audit Committee approved Deloitte as independent auditor for FY2022, subject to standard procedures.
Q2 net income $0.6M ($0.02 EPS) vs loss $0.1M last year; combined ratio improved to 96.5% from 101.2%.
it is contemplated that Mr. Richardson will become a member of the Registrant's board of directors on January 1, 2024.
Mr. Richardson will succeed Simon Burton, who is leaving the Registrant on December 31, 2023.
Greg Richardson will be appointed Chief Executive Officer effective as of January 1, 2024.
Mr. Romer will succeed Neil Greenspan, who is leaving the Company on March 31, 2023.
Faramarz Romer, the Registrant’s Chief Accounting Officer and Treasurer, will be appointed Chief Financial Officer effective as of April 1, 2023.
On October 25, 2022, Greenlight Capital Re, Ltd. (the “Company”) and Greenlight Reinsurance, Ltd. (“Greenlight” and, together with the Company, the “Employer”) announced that Laura Accurso, General Counsel, Corporate Secretary, and Chief Compliance Officer of the Employer, will separate from the Employer, effective as of December 31, 2022
Simon Burton, the Registrant’s Chief Executive Officer, relinquished his role as Chief Underwriting Officer
Max materiality 0.80 · Median 0.60 · Most common event earnings