Greenlight Capital Re Reports Record Underwriting Income

Greenlight Capital Re ( (GLRE) ) has released its Q3 earnings. Here is a breakdown of the information Greenlight Capital Re presented to its investors.

Greenlight Capital Re, Ltd. is a reinsurance company that provides multiline property and casualty insurance and reinsurance services, operating primarily in the Cayman Islands and Ireland, with a focus on innovative investment strategies.

In its latest earnings report, Greenlight Capital Re announced a record quarterly underwriting income for the third quarter of 2025, resulting in a combined ratio of 86.6%, the lowest in the company’s history. Despite the challenging investment environment, the company demonstrated strong underwriting performance.

Key financial highlights include a 9.5% increase in gross premiums written to $184.4 million and an 8.9% rise in net premiums earned to $165.4 million for the third quarter. The company achieved a net underwriting income of $22.3 million, significantly up from $6.1 million in the previous year. However, the company faced a total investment loss of $17.4 million, leading to a net loss of $4.4 million for the quarter.

For the nine months ended September 30, 2025, Greenlight Re reported a 10.3% increase in gross premiums written to $612.0 million and a 5.0% rise in net premiums earned to $495.5 million. The company achieved a net income of $25.6 million, although this was a decrease from $70.2 million in the same period of the previous year.

Looking ahead, Greenlight Capital Re’s management remains optimistic about its underwriting capabilities and strategic approach, despite the ongoing challenges in the investment landscape. The company continues to focus on maintaining strong underwriting margins and exploring opportunities for growth in the reinsurance market.