绿光资本 2025年季度报告

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required tosubmit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,”“accelerated filer,” “smaller reporting company,” and Large accelerated filer☐Accelerated filer☒Non-accelerated filer☐company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act) Yes☐No☒ At May2, 2025, there were34,555,431ordinary shares outstanding, $0.10 par value per share, of the registrant. PART I — FINANCIAL INFORMATION NOTE OF FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q (herein referred as “Form 10-Q”) of Greenlight Capital Re, Ltd. (“Greenlight Capital Re,” “Company,”“us,” “we,” or “our”) contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, andSection 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements, other than statements of historical factsincluded in this report, including statements regarding estimates, projections, statements relating to our business plans, objectives, and expectedoperating results, and the assumptions upon which those statements are based, are “forward-looking statements”. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the United States (“U.S.”) federal securities Forward-looking statements contained in this Form 10-Q may include, but are not limited to, information regarding our estimates forcatastrophes and weather-related losses (herein referred as “CAT losses”), measurements of potential losses in the fair market value of ourinvestments, our expectations regarding the performance of our business, our financial results, our liquidity and capital resources, the outcome Forward-looking statements only reflect our expectations and are not guarantees of performance. These statements involve risks, uncertaintiesand assumptions. Accordingly, there are or will be important factors that could cause actual events or results to differ materially from thoseindicated in such statements. We believe that these factors include, but are not limited to: •any suspension or revocation of any of our licenses;•losses from catastrophes and other major events;•a downgrade or withdrawal of our A.M. Best ratings;•the loss of significant brokers; and We undertake no obligation to publicly update or revise any forward-looking statements, whether due to new information, future events, orotherwise. Readers are cautioned not to place undue reliance on the forward-looking statements, which speak only to the dates they were made. We intend to communicate certain events that we believe may have a material adverse impact on our operations or financial position, includingproperty and casualty catastrophic events and material losses in our investment portfolio, in a timely manner through a public announcement.Other than as required by the Exchange Act, we do not intend to make public announcements regarding underwriting or investment events that March 31, 2025December 31,2024 GREENLIGHT CAPITAL RE, LTD.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(UNAUDITED) Return to table of contents GREENLIGHT CAPITAL RE, LTD.CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY Three months ended March 3120252024Ordinary share capitalBalance - beginning of period$3,483$3,534Forfeited shares, net of issued shares(27)(2)Balance - end of period3,4563,532 GREENLIGHT CAPITAL RE, LTD.NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(UNAUDITED) 1.ORGANIZATION AND BASIS OF PRESENTATION Organization Greenlight Capital Re, Ltd. (“GLRE” and, together with its wholly-owned subsidiaries, the “Company”) was incorporated as an exemptedcompany under the Companies Law of the Cayman Islands on July 13, 2004. The Company is a global specialty property and casualty reinsurer Basis of Presentation These unaudited condensed consolidated financial statements (the “financial statements”) have been prepared in accordance with accountingprinciples generally accepted in the United States of America (“U.S. GAAP”) for interim financial information, and with the U.S. Securities andExchange Commission’s (“SEC”) instructions to Quarterly Report on Form 10-Q and Article 10 of R