GLRE on Nasdaq
GREENLIGHT CAPITAL RE, LTD.
GREENLIGHT CAPITAL RE, LTD. is a fire company, listed on Nasdaq (GLRE).1
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Last updated Oct 20, 2026.
Overview
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- TickerGLRE on Nasdaq1
- IndustryFire, Marine & Casualty Insurance1
- Business address65 Market Street, Suite 1207,, Camana Bay, P.O. Box 31110, Grand Cayman, Ky1-12052
- Filer categoryAccelerated filer2
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We have included a Glossary of Selected Reinsurance Terms at the end of “Part I, Item 1. Business” of this Form 10-K.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs89¢$651.5M
- Income tax0¢$3.5M
- Profit10¢$74.8M
Out of $729.8M in revenue.5
Where each dollar of operating cash went, fiscal 2025
- Share buybacks5¢$9.8M
- Kept or used elsewhere95¢$200.4M
Out of $210.2M of cash from operations.5
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Gross premiums written | $773.3M | $698.3M | $636.8M |
| Gross premiums ceded | -$81.9M | -$77.1M | -$42.8M |
| Net premiums written | $691.4M | $621.3M | $594.0M |
| Change in net unearned premium reserves | -$30.3M | -$1.3M | -$10.9M |
| Net premiums earned | $661.1M | $620.0M | $583.1M |
| Income from investment in related party investment fund (see Note $3 ) | $35.7M | $33.6M | $28.7M |
| Net investment income | $24.5M | $46.0M | $43.4M |
| Foreign exchange gains (losses) | $8.5M | -$5.6M | $11.6M |
| Other income | $0 | $2.1M | $265.0K |
| Total revenues | $729.8M | $696.0M | $667.1M |
| Net loss and loss adjustment expenses incurred | $411.6M | $427.3M | $360.0M |
| Acquisition costs | $184.9M | $176.8M | $168.9M |
| Underwriting expenses | $28.6M | $22.9M | $19.6M |
| Corporate and other expenses | $21.6M | $16.4M | $23.7M |
| Deposit interest expense | $421.0K | $3.3M | $2.7M |
| Interest expense | $4.4M | $5.8M | $5.3M |
| Total expenses | $651.5M | $652.5M | $580.2M |
| Income before income tax | $78.3M | $43.6M | $86.9M |
| Income tax expense | -$3.5M | -$749.0K | -$100.0K |
| Net income | $74.8M | $42.8M | $86.8M |
| Basic (in dollars per share) | $2.21 | $1.26 | $2.55 |
| Diluted (in dollars per share) | $2.17 | $1.24 | $2.50 |
| Basic (in shares) | 33.8M shares | 34.1M shares | 34.1M shares |
| Diluted (in shares) | 34.5M shares | 34.7M shares | 34.8M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Investment in related party investment fund, at fair value | $504.6M | $387.1M | ||
| Fixed maturity investments, at fair value | $65.6M | $0 | ||
| Other investments | $62.9M | $73.2M | ||
| Total investments | $633.1M | $460.3M | ||
| Cash and cash equivalents | $111.8M | $64.7M | ||
| Restricted cash and cash equivalents | $532.0M | $584.4M | ||
| Reinsurance balances receivable | $664.4M | $704.5M | ||
| Reinsurance recoverable on unpaid loss and loss adjustment expenses | $81.4M | $85.8M | $25.7M | |
| Deferred acquisition costs | $100.0M | $82.2M | ||
| Unearned premiums ceded | $39.2M | $29.5M | ||
| Other assets | $8.0M | $4.8M | ||
| Total assets | $2.2B | $2.0B | $1.7B | |
| Loss and loss adjustment expense reserves | $968.0M | $861.0M | $661.6M | $555.5M |
| Unearned premium reserves | $361.7M | $324.6M | ||
| Reinsurance balances payable | $95.9M | $105.9M | ||
| Funds withheld | $16.1M | $21.9M | ||
| Other liabilities | $15.5M | $6.3M | ||
| Debt | $4.7M | $60.7M | ||
| Total liabilities | $1.5B | $1.4B | ||
| Preferred share capital (par value $0.10; none issued) | $0 | $0 | ||
| Ordinary share capital (par value $0.10; issued and outstanding, 33,897,709) (2024: par value $0.10; issued and outstanding, 34,831,324) | $3.4M | $3.5M | ||
| Additional paid-in capital | $478.9M | $481.6M | ||
| Retained earnings | $225.7M | $150.8M | ||
| Total shareholders' equity | $708.0M | $635.9M | ||
| Total liabilities and equity | $2.2B | $2.0B | ||
| Preferred share capital, par value (in dollars per share) | $0.10 | $0.10 | ||
| Preferred share capital issued (in shares) | 0 shares | 0 shares | ||
| Ordinary share capital, par value (in dollars per share) | $0.10 | $0.10 | ||
| Ordinary share capital issued (in shares) | 33.9M shares | 34.8M shares | ||
| Ordinary share capital outstanding (in shares) | 33.9M shares | 34.8M shares | 35.3M shares | 0 shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Investment in related party investment fund, at fair value | $504.6M | $387.1M | ||
| Fixed maturity investments, at fair value | $65.6M | $0 | ||
| Other investments | $62.9M | $73.2M | ||
| Total investments | $633.1M | $460.3M | ||
| Cash and cash equivalents | $111.8M | $64.7M | ||
| Restricted cash and cash equivalents | $532.0M | $584.4M | ||
| Reinsurance balances receivable | $664.4M | $704.5M | ||
| Reinsurance recoverable on unpaid loss and loss adjustment expenses | $81.4M | $85.8M | $25.7M | |
| Deferred acquisition costs | $100.0M | $82.2M | ||
| Unearned premiums ceded | $39.2M | $29.5M | ||
| Other assets | $8.0M | $4.8M | ||
| Total assets | $2.2B | $2.0B | $1.7B | |
| Loss and loss adjustment expense reserves | $968.0M | $861.0M | $661.6M | $555.5M |
| Unearned premium reserves | $361.7M | $324.6M | ||
| Reinsurance balances payable | $95.9M | $105.9M | ||
| Funds withheld | $16.1M | $21.9M | ||
| Other liabilities | $15.5M | $6.3M | ||
| Debt | $4.7M | $60.7M | ||
| Total liabilities | $1.5B | $1.4B | ||
| Preferred share capital (par value $0.10; none issued) | $0 | $0 | ||
| Ordinary share capital (par value $0.10; issued and outstanding, 33,897,709) (2024: par value $0.10; issued and outstanding, 34,831,324) | $3.4M | $3.5M | ||
| Additional paid-in capital | $478.9M | $481.6M | ||
| Retained earnings | $225.7M | $150.8M | ||
| Total shareholders' equity | $708.0M | $635.9M | ||
| Total liabilities and equity | $2.2B | $2.0B | ||
| Preferred share capital, par value (in dollars per share) | $0.10 | $0.10 | ||
| Preferred share capital issued (in shares) | 0 shares | 0 shares | ||
| Ordinary share capital, par value (in dollars per share) | $0.10 | $0.10 | ||
| Ordinary share capital issued (in shares) | 33.9M shares | 34.8M shares | ||
| Ordinary share capital outstanding (in shares) | 33.9M shares | 34.8M shares | 35.3M shares | 0 shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $74.8M | $42.8M | $86.8M |
| Income from investments in related party investment fund | -$35.7M | -$33.6M | -$28.7M |
| Net realized and unrealized losses (gains) on investments | $11.7M | $918.0K | -$1.7M |
| Share-based compensation expense | $7.1M | $4.5M | $6.1M |
| Accretion of debt offering costs, net of change in interest accruals | -$712.0K | $1.2M | -$1.7M |
| Net realized gain on repurchases of convertible senior notes payable | $0 | $0 | -$265.0K |
| Net realized and unrealized losses (gains) on derivatives | $0 | -$335.0K | $577.0K |
| Reinsurance balances receivable | $40.1M | -$85.1M | -$113.8M |
| Reinsurance recoverable on unpaid loss and loss adjustment expenses | $4.4M | -$60.1M | -$12.4M |
| Deferred acquisition costs | -$17.7M | -$2.3M | $2.4M |
| Unearned premiums ceded | -$9.7M | -$12.3M | $892.0K |
| Loss and loss adjustment expense reserves | $107.0M | $199.4M | $106.1M |
| Unearned premium reserves | $37.2M | $18.2M | -$1.5M |
| Reinsurance balances payable | -$10.0M | $36.9M | -$36.2M |
| Funds withheld | -$5.8M | $4.6M | -$4.6M |
| Other items, net | $7.6M | -$3.4M | $5.5M |
| Net cash provided by operating activities | $210.2M | $111.5M | $7.5M |
| Proceeds from redemptions of investment in Solasglas | $14.0M | $34.0M | $79.0M |
| Contributions to investment in Solasglas | -$95.7M | -$128.6M | -$131.0M |
| Purchases of fixed maturity investments | -$65.6M | $0 | $0 |
| Sale of fixed maturity investments | $69.0K | $0 | $0 |
| Purchases of other investments | -$4.1M | -$1.7M | -$7.1M |
| Proceeds from sale of other investments | $2.6M | $889.0K | $6.0M |
| Purchases of other assets | -$441.0K | -$1.1M | $0 |
| Net cash used in investing activities | -$149.2M | -$96.6M | -$53.1M |
| Repurchase of ordinary shares | -$9.8M | -$7.5M | $0 |
| Repayment of debt | $55.3M | $13.8M | $947.0K |
| Proceeds from lines of credit | $0 | $0 | $75.0M |
| Repayment of debt | $0 | $0 | $62.1M |
| Repurchase of convertible senior notes payable | $0 | $0 | -$17.2M |
| Net cash used in financing activities | -$65.1M | -$21.2M | -$5.3M |
| Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash | -$1.3M | -$345.0K | $100.0K |
| Decrease in cash, cash equivalents and restricted cash | -$5.4M | -$6.6M | -$50.8M |
| Interest paid in cash | $4.8M | $5.2M | $5.1M |
| Income tax paid (refund received) in cash (see Note 15) | $1.2M | $223.0K | -$1.0M |
No quarter-by-quarter statement was filed.
Corporate structure
GREENLIGHT CAPITAL RE, LTD. sits at the top of its group. 8 entities, 4 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of GREENLIGHT CAPITAL RE, LTD.
- David Einhorn Filed SCHEDULE 13D/A on GREENLIGHT CAPITAL RE, LTD., latest Aug 5, 2026 (3 filings since Jul 27, 2023)
- BlackRock Filed SCHEDULE 13G/A on GREENLIGHT CAPITAL RE, LTD., latest Apr 27, 2026
- DIMENSIONAL FUND ADVISORS LP Filed SC 13G/A on GREENLIGHT CAPITAL RE, LTD., latest Feb 9, 2024 (3 filings since Feb 8, 2022)
- Morgan Stanley Filed SC 13G/A on GREENLIGHT CAPITAL RE, LTD., latest Dec 11, 2023 (3 filings since Feb 10, 2022)
- Orchard Capital Management, LLC Filed SC 13G on GREENLIGHT CAPITAL RE, LTD., latest Feb 13, 2023 (2 filings since Feb 18, 2022)
- GREENLIGHT CAPITAL RE, LTD.
- Greenlight Re Corporate Member Ltd. Subsidiary · United Kingdom
- Greenlight Re Ireland Services Limited Subsidiary · Ireland
- Greenlight Re Marketing (UK) Limited Subsidiary · United Kingdom
- Greenlight Reinsurance Ireland, Designated Activity Company Subsidiary · Ireland
- Greenlight Reinsurance, Ltd. Subsidiary · Cayman Islands
- Verdant Holding Company, Ltd. Subsidiary · Delaware, United States
- Viridis Re SPC, Ltd. Subsidiary · Cayman Islands
Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What GREENLIGHT CAPITAL RE, LTD. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Operating-lease assets (leased space) | $2.7M5 Dec 31, 2025 | $900.0K5 Dec 31, 2024 | +200.0% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $111.8M5 Dec 31, 2025 | $64.7M5 Dec 31, 2024 | +72.8% |
Properties, in its own words
We lease office space in Grand Cayman, Cayman Islands, where our principal executive office is located. Additionally, we lease office spaces in the United Kingdom and Ireland. We renew and enter into new leases in the ordinary course of business.
We believe that our office space is sufficient for us to conduct our operations for the foreseeable future. For further discussion of our lease commitments at December 31, 2025, refer to Note 17 “Commitments and Contingencies” of the consolidated financial statements.
Item 2 of the 10-K filed Mar 9, 2026.4
Leadership
Who has led GREENLIGHT CAPITAL RE, LTD., and when. Pick a name to see everywhere that person has worked.
Chief financial officer
Chief operating officer
- Chief executive officerGreg Richardson Jan 8, 2024 to now14
- Chief executive officerSimon Burton Jul 6, 2017 to Mar 17, 202315
- Chief executive officerBarton Hedges Aug 17, 2011 to Aug 15, 201616
- Chief financial officerFaramarz Romer Mar 19, 2024 to now17
- Chief financial officerNeil W. Greenspan Mar 16, 2021 to Mar 17, 202218
- Chief financial officerTim Courtis May 24, 2007 to Sep 15, 202019
- Chief operating officerMichael J. Belfatti Aug 31, 2017 to Mar 19, 201820
Board members and other officers (26)
- Chief Accounting OfficerSteven Archambault Mar 11, 2025 to now21
- Chief ActuaryRichard Paul Strommer Mar 9, 2023 to now22
- Chief Accounting OfficerNeil W. Greenspan Jan 4, 2019 to Mar 18, 202023
- Chief Risk OfficerThomas James Curnock Nov 2, 2018 to now24
- Chief Actuarial OfficerJames McNichols Sep 22, 2014 to Sep 1, 201625
- Chief Underwriting OfficerBarry Brendan Nov 1, 2011 to Sep 9, 202026
- Chief ActuaryClaude Wagner Nov 1, 2011 to Jul 1, 201427
- Reporting & Compliance OfficerFaramarz Romer May 9, 2008 to Mar 17, 202328
- Pres. & Chf. Underwriting Off.Barton Hedges May 24, 2007 to Mar 16, 201129
- Controller and SecretarySherry Diaz May 24, 2007 to now30
- Alternate DirectorDaniel Roitman May 25, 2007 to May 29, 200731
- Board memberAriel Warszawski Jul 31, 2026 to now32
- Board memberGreg Richardson Jan 8, 2024 to now14
- Board memberUrsuline F. Foley Aug 9, 2021 to now33
- Board memberVictoria W. Guest Aug 9, 2021 to now34
- Board memberSimon Burton Jul 6, 2017 to Mar 17, 202315
- Board memberHope S. Taitz Aug 2, 2017 to May 13, 201935
- Board memberBarton Hedges Aug 17, 2011 to Aug 15, 201616
- Board memberBryan Murphy May 9, 2008 to now36
- Board memberIan Isaacs May 9, 2008 to now37
- Board memberAlan Michael Brooks May 24, 2007 to May 11, 202138
- Board memberFrank D. Lackner May 24, 2007 to May 13, 201939
- Board memberJerome L. Simon May 24, 2007 to May 25, 200740
- Board memberJoseph P. Platt Jr. May 24, 2007 to now41
- General counselDavid Sigmon May 2, 2023 to now42
- General counselLaura Accurso Sep 25, 2017 to Mar 17, 202243
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- Greenlight Re Corporate Member Ltd. United Kingdom3
- Greenlight Re Ireland Services Limited Ireland3
- Greenlight Re Marketing (UK) Limited United Kingdom3
- Greenlight Reinsurance Ireland, Designated Activity Company Ireland3
- Greenlight Reinsurance, Ltd. Cayman Islands3
- Verdant Holding Company, Ltd. Delaware3
- Viridis Re SPC, Ltd. Cayman Islands3
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Timeline
- Sep 1, 20268-K Executive or director change; Other events44
- Aug 4, 20268-K Entered a material agreement; Results of operations45
- Aug 3, 20268-K Shareholder vote46
- Jun 1, 20268-K Entered a material agreement47
- May 5, 20268-K Results of operations48
- Apr 6, 20268-K Entered a material agreement; New debt or obligation; Executive or director change49
- Mar 9, 20268-K Results of operations50
- Feb 5, 20268-K Executive or director change51
- Nov 3, 20258-K Results of operations52
- Sep 9, 20258-K Entered a material agreement; New debt or obligation53
- Aug 5, 20258-K Results of operations; Shareholder vote54
- May 7, 20258-K Results of operations55
- Jan 8, 2024New chief executive Greg Richardson becomes CEO14
- Jul 6, 2017New chief executive Simon Burton becomes CEO15
- Aug 17, 2011New chief executive Barton Hedges becomes CEO16
Calendar
Coming up
- Nov 2, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.13) a share, on Nov 3, 2025.56
When it reported results
- Aug 4, 2026Reported quarterly or annual results45
- May 5, 2026Reported quarterly or annual results48
- Mar 9, 2026Reported quarterly or annual results50
- Nov 3, 2025Reported quarterly or annual results52
- Aug 5, 2025Reported quarterly or annual results54
- May 7, 2025Reported quarterly or annual results55
- Mar 10, 2025Reported quarterly or annual results57
- May 8, 2024Reported quarterly or annual results58
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
251 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 47 major events, 134 insider forms, 15 large holders, 35 other. The latest 20:
- Sep 29, 20264 EDGAR
- Sep 18, 20264 EDGAR
- Sep 16, 20264 EDGAR
- Sep 4, 20264 EDGAR
- Sep 4, 20263 EDGAR
- Sep 1, 20268-K EDGAR
- Aug 31, 20264 EDGAR
- Aug 25, 2026144 EDGAR
- Aug 11, 20264 EDGAR
- Aug 10, 20264 EDGAR
- Aug 7, 20264 EDGAR
- Aug 7, 20264 EDGAR
- Aug 7, 20264 EDGAR
- Aug 7, 20264 EDGAR
- Aug 7, 20264 EDGAR
- Aug 7, 20264 EDGAR
- Aug 7, 20264 EDGAR
- Aug 5, 2026SCHEDULE 13D/A EDGAR
- Aug 4, 202610-Q EDGAR
- Aug 4, 20268-K EDGAR
The 251 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
49 open-market trades by officers, directors and large owners since October 2021: 6 buys and 43 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 28, 2026 | Isaacs IanDirector | Sale | 5,150 | $14.90 | $76.7K | Form 4 |
| Sep 25, 2026 | Isaacs IanDirector | Sale | 10,000 | $14.95 | $149.5K | Form 4 |
| Sep 17, 2026 | Diaz SherryController | Sale | 13,500 | $15.08 | $203.6K | Form 4 |
| Sep 14, 2026 | Isaacs IanDirector | Sale | 4,850 | $15.13 | $73.4K | Form 4 |
| Aug 28, 2026 | Isaacs IanDirector | Sale | 4,054 | $15.42 | $62.5K | Form 4 |
| Aug 27, 2026 | Isaacs IanDirector | Sale | 946 | $15.43 | $14.6K | Form 4 |
| Aug 10, 2026 | Goldberg Leonard RDirector | Buy | 6,000 | $15.42 | $92.5K | Form 4 |
| Aug 7, 2026 | Goldberg Leonard RDirector | Buy | 6,000 | $15.62 | $93.7K | Form 4 |
| Jun 29, 2026 | Isaacs IanDirector | Sale | 1,191 | $16.72 | $19.9K | Form 4 |
| Jun 25, 2026 | Isaacs IanDirector | Sale | 4,000 | $16.06 | $64.2K | Form 4 |
| Jun 24, 2026 | Isaacs IanDirector | Sale | 5,000 | $16.64 | $83.2K | Form 4 |
| Jun 23, 2026 | O'BRIEN PATRICKChief Operating Officer | Sale | 3,026 | $16.36 | $49.5K | Form 4 |
| Jun 23, 2026 | Isaacs IanDirector | Sale | 9,230 | $16.33 | $150.7K | Form 4 |
| Jun 22, 2026 | Isaacs IanDirector | Sale | 1,716 | $15.92 | $27.3K | Form 4 |
| May 26, 2026 | Platt Joseph P JRDirector | Sale | 11,747 | $16.87 | $198.2K | Form 4 |
| May 19, 2026 | Platt Joseph P JRDirector | Sale | 23,613 | $18.01 | $425.3K | Form 4 |
| May 14, 2026 | Platt Joseph P JRDirector | Sale | 12,000 | $17.50 | $210.0K | Form 4 |
| May 14, 2026 | Sigmon DavidGeneral Counsel | Sale | 7,500 | $17.33 | $130.0K | Form 4 |
| May 13, 2026 | Platt Joseph P JRDirector | Sale | 820 | $17.50 | $14.3K | Form 4 |
| May 12, 2026 | Platt Joseph P JRDirector | Sale | 6,820 | $17.50 | $119.3K | Form 4 |
All 49 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- David EinhornSCHEDULE 13D/A, 3 filings Jul 27, 2023 to Aug 5, 202659
- BlackRockSCHEDULE 13G/A, 1 filing Apr 27, 202660
- DIMENSIONAL FUND ADVISORS LPSC 13G/A, 3 filings Feb 8, 2022 to Feb 9, 202461
- Morgan StanleySC 13G/A, 3 filings Feb 10, 2022 to Dec 11, 202362
- Orchard Capital Management, LLCSC 13G, 2 filings Feb 18, 2022 to Feb 13, 202363
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Greg RichardsonChief Executive Officer | 66 | $800.0K | $3.3M64 |
| 2025 | Patrick O’BrienChief Operating Officer & Chief Executive Officer, GRIL | 57 | $508.5K | $1.5M64 |
| 2025 | Thomas CurnockGroup Chief Underwriting Officer & Chief Risk Officer | 54 | $520.0K | $1.4M64 |
| 2025 | Faramarz RomerChief Financial Officer | 50 | $500.0K | $1.3M64 |
| 2025 | Brian O'ReillyHead of Innovations | 42 | $415.0K | $1.0M64 |
| 2024 | Greg RichardsonChief Executive Officer | 66 | $800.0K | $2.3M64 |
| 2024 | Patrick O’BrienChief Operating Officer & Chief Executive Officer, GRIL | 57 | $486.0K | $999.8K64 |
| 2024 | Faramarz RomerChief Financial Officer | 50 | $500.0K | $997.4K64 |
| 2024 | Thomas CurnockGroup Chief Underwriting Officer & Chief Risk Officer | 54 | $500.0K | $951.4K64 |
| 2023 | Patrick O’BrienChief Operating Officer & Chief Executive Officer, GRIL | 57 | $437.4K | $1.2M64 |
| 2023 | Thomas CurnockGroup Chief Underwriting Officer & Chief Risk Officer | 54 | $450.0K | $984.5K64 |
| 2023 | Faramarz RomerChief Financial Officer | 50 | $440.6K | $917.4K64 |
SEC filer profile
How GREENLIGHT CAPITAL RE, LTD. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARGREENLIGHT CAPITAL RE, LTD.1
- CIK0001385613
- Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company4
- Incorporated inCayman Islands4
- Fiscal year endsDecember 311
- Industry code (SIC)6331 Fire, Marine & Casualty Insurance1
- SEC reviewing officeOffice of Finance, Division of Corporation Finance1
- Business address65 Market Street, Suite 1207,, Camana Bay, P.O. Box 31110, Grand Cayman, KY1-1205, Cayman Islands1
- Phone345 943 45731
- Shares outstanding32,641,344 as of Aug 3, 202612
- Public float$376.0M as of Jun 30, 20254
- AuditorDeloitte Ltd., Hamilton, Bermuda PCAOB ID 5230; it also attests to the company’s internal control over financial reporting4
- On EDGAR sinceJan 16, 20071
- Filings955 in all: 4 (428), 8-K (171), 10-Q (58), SC 13G/A (51), 3 (34), SC 13G (23), UPLOAD (22), CORRESP (20)1
All 39 form types
10-K (19), DEF 14A (19), DEFA14A (19), 4/A (14), 144 (11), IRANNOTICE (10), S-1/A (6), EFFECT (5), F-N (5), S-3/A (5), S-3 (4), S-8 (4), 3/A (3), 5 (3), 10-K/A (2), PRE 14A (2), S-3ASR (2), SCHEDULE 13D/A (2), 144/A (1), 424B4 (1), 8-A12B (1), 8-K/A (1), CERTNAS (1), DEFR14A (1), F-N/A (1), REGDEX (1), S-1 (1), S-1MEF (1), SC 13D (1), SC 13D/A (1), SCHEDULE 13G/A (1)
- Latest filingsAnnual report (10-K) Mar 9, 2026
Quarterly report (10-Q) Aug 4, 2026
Proxy statement (DEF 14A) Apr 24, 2026
Latest 8-K (8-K) Sep 1, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Ordinary shares | GLRE | The Nasdaq Stock Market LLC |
From the cover page of the 10-K filed Mar 9, 2026 (Section 12(b) of the Exchange Act).4
Risk factors and legal proceedings
The risks GREENLIGHT CAPITAL RE, LTD. names in Item 1A of its 10-K filed Mar 9, 2026: 71 risks under these headings, as written.4
- Risks Relating to Our Business
- Our results of operations fluctuate from period to period and may not be indicative of our long-term prospects.
- If our losses and LAE greatly exceed our loss reserves, our financial condition may be materially and adversely affected.
- Our property and casualty reinsurance operations make us vulnerable to losses from catastrophes and may cause our results of operations to vary significantly from period to period.
- We may need additional capital in the future in order to operate our business, and such capital may not be available to us or may not be available to us on favorable terms.
- Competitors with greater resources may make it difficult for us to effectively market our products or offer our products at a profit.
- Consolidation in the reinsurance industry could adversely affect us.
- Challenging economic or political conditions may adversely impact our results of operations or financial condition.
- Emerging claim and coverage issues have had and may continue to adversely impact our business and results.
- The property and casualty reinsurance market is affected by cyclical trends.
- A downgrade or withdrawal of our A.M. Best ratings would materially and adversely affect our ability to implement our business strategy.
- Modeling risks are inherent in our business.
The other 60 risks
- Technology breaches or failures, including those resulting from a malicious ransomware or cyber-attack on us or our business partners and service providers, could disrupt or otherwise negatively impact our business.
- The loss of significant brokers or customers, could materially and adversely affect our business, financial condition and results of operations.
- We depend on our clients’ evaluations of the risks associated with their insurance underwriting, which may subject us to reinsurance losses.
- We are subject to the credit risk of our brokers, cedents, agents and other counterparties.
- We may not successfully alleviate risk through reinsurance arrangements. Additionally, we may be unable to collect, which could adversely affect our business, financial condition, and results of operations.
- Our failure to comply with restrictive covenants contained in our current or future credit facilities could trigger prepayment obligations, which could adversely affect our business, financial condition, and results of operations.
- We may not successfully obtain the necessary credit facilities to support our business strategy.
- If we lose or are unable to retain or implement succession plans for our senior management and other key personnel, our ability to implement our business strategy could be delayed or hindered, which, in turn, could materially and adversely affect our business, financial condition and results of operations.
- Our ability to implement our business strategy could be adversely affected by Cayman Islands employment restrictions.
- We may face risks arising from future strategic transactions such as acquisitions, dispositions, mergers, or joint ventures.
- Non-compliance with laws, regulations, and taxation regarding transactions with international counterparties may adversely affect our business.
- Currency fluctuations could result in exchange rate losses and negatively impact our business.
- Natural disasters and other catastrophic events may adversely affect our operations and disrupt our business.
- Risks Relating to Insurance and Other Regulations
- Any suspension or revocation of any of our licenses would materially and adversely affect our business, financial condition and results of operations.
- Our reinsurance subsidiaries are subject to minimum capital and surplus requirements, and our failure to meet these requirements could subject us to regulatory action.
- We are a holding company that depends on the ability of our subsidiaries to pay dividends.
- We are subject to the risk of possibly becoming an investment company under U.S. federal securities law.
- Insurance regulations to which we are, or may become, subject, and potential changes thereto, could have a significant and negative effect on our business.
- There are differences between Cayman Islands corporate law and Delaware corporate law with respect to interested party transactions, which may benefit certain of our shareholders at the expense of other shareholders.
- A failure by our Syndicate 3456 to comply with rules and regulations could materially and adversely interfere with our business strategy.
- Risks Relating to Our Solasglas Investment Strategy
- Our investment performance depends in part on the performance of Solasglas and may suffer as a result of adverse in financial markets or other factors that impact Solasglas’ liquidity.
- Solasglas may be concentrated in a few large positions, which could result in material adverse valuation movements.
- Under the Solasglas LPA, we are contractually obligated to invest substantially all our assets in Solasglas with certain exceptions. Solasglas’ performance depends on the ability of DME Advisors to select and manage appropriate investments.
- We have limited control over Solasglas and Solasglas LPA limits our ability to use another investment manager.
- The historical performance of DME Advisors and its affiliates should not be considered indicative of the future results of the Solasglas investment portfolio, our future results, or any returns expected on our ordinary shares.
- Potential conflicts of interest with DME Advisors and its affiliates may exist that could adversely affect us.
- Certain investments made by Solasglas may have limited liquidity and lack valuation data which could create a conflict of interest.
- If DME Advisor’s risk management methodologies are ineffective, we may be exposed to material unanticipated losses.
- The compensation arrangements of Solasglas may create an incentive to effect transactions that are risky or speculative.
- DME Advisors’ representatives’ service on boards and committees may place trading restrictions on our investments and may subject us to indemnification liability.
- We and Solasglas are exposed to credit risk from counterparties that may default on their obligations to us.
- Solasglas effectuates short sales that subject our capital accounts to material and adverse loss potential.
- Solasglas may trade on margin and use other forms of financial leverage, which may increase the risk of our investment portfolio.
- Solasglas may transact in derivatives trading, which may increase the risks associated with our investment portfolio.
- Risks Relating to Our Innovations Strategy
- The carrying values of our Innovations investments may differ significantly from those that would be used if we carried these investments at fair value. Additionally, we have a material concentration in our top five holdings at December 31, 2025.
- Our Innovations investments carry higher risks due to illiquidity.
- Our Innovations investments support our underwriting operations and the failure to identify and consummate investment opportunities may materially and adversely affect our ability to implement our business strategy.
- Investments in privately held early-stage companies involve significant risks.
- Economic recessions or downturns could impair our Innovations investment and harm our operating results.
- Our Innovations investments are made in entities that may incur debt or issue equity securities that rank equally with, or senior to, our investments in such companies.
- As a minority equity investor, we are often not in a position to influence the entity, and other equity holders and management of such entity may make decisions that could decrease the value of our investment in such entity.
- Our Innovations investments are in entities that may be highly leveraged.
- Our failure to make follow-on investments in our existing Innovations investments could impair the value of our portfolio.
- Risks Relating to Our Ordinary Shares
- Our ability to achieve our business objectives depends on our ability to manage and deploy capital.
- Our level of debt may have an adverse impact on our liquidity, restrict our current and future operations, particularly our ability to respond to business opportunities, and increase our vulnerability to adverse economic and industry conditions.
- A shareholder may be required to sell its ordinary shares.
- Provisions of our Articles, the Companies Act of the Cayman Islands (the “Companies Act”) and our corporate structure may each impede a takeover, which could adversely affect the value of our ordinary shares.
- Holders of ordinary shares may have difficulty obtaining or enforcing a judgment against us, and they may face difficulties in protecting their interests because we are incorporated under Cayman Islands law.
- We do not intend to pay dividends on our ordinary shares and, consequently, your ability to achieve a return on your investment will depend on appreciation in the price of our common shares.
- Risks Relating to Taxation
- We may be subject to United States federal income taxation.
- United States persons who own ordinary shares may be subject to United States federal income taxation on our undistributed earnings and may recognize ordinary income upon disposition of ordinary shares.
- Passive Foreign Investment Company.
- Controlled Foreign Corporation (“CFC”).
- United States tax-exempt organizations who own ordinary shares may recognize unrelated business taxable income.
- The Tax Cuts and Jobs Act (“TCJA”) may cause us to undertake changes to the manner in which we conduct our business and could subject United States persons who own ordinary shares to United States income taxation on our undistributed earnings.
- Further changes in United States tax regulations and laws including the rules regarding passive foreign investment companies could have a material impact on our ability to qualify for the insurance company exemption and/or change our status for United States persons who own ordinary shares.
- The TCJA may have a detrimental effect on the Company and its assets.
- If investments held by GRIL are determined not to be integral to the reinsurance business carried on by GRIL, additional Irish tax could be imposed and our business and financial results could be materially adversely affected.
- The impact of the initiative of the OECD and the EU to eliminate harmful tax practices is uncertain and could adversely affect our tax status in the Cayman Islands where we are exempt from income taxes.
- We may become subject to taxation in the Cayman Islands, which would negatively affect our results.
Legal proceedings
From time to time, in the normal course of business, we may be involved in formal and informal dispute resolution procedures, which may include arbitration or litigation, the outcomes of which determine our rights and obligations under our reinsurance contracts and other contractual agreements. In some disputes, we may seek to enforce our rights under an agreement or to collect funds owing to us. In other matters, we may resist attempts by others to collect funds or enforce alleged rights. While the final outcome of legal disputes cannot be predicted with certainty, we do not believe that any of our existing contractual disputes, when finally resolved, will have a material adverse effect on our business, financial condition or operating results.
The opening of Item 3, Legal Proceedings.4
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 19SEC EDGARTim Courtis, Chief financial officer
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- 22SEC EDGARRichard Paul Strommer, Chief Actuary
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- 27SEC EDGARClaude Wagner, Chief Actuary
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- 31SEC EDGARDaniel Roitman, Alternate Director
- 32SEC EDGARAriel Warszawski, Board member
- 33SEC EDGARUrsuline F. Foley, Board member
- 34SEC EDGARVictoria W. Guest, Board member
- 35SEC EDGARHope S. Taitz, Board member
- 36SEC EDGARBryan Murphy, Board member
- 37SEC EDGARIan Isaacs, Board member
- 38SEC EDGARAlan Michael Brooks, Board member
- 39SEC EDGARFrank D. Lackner, Board member
- 40SEC EDGARJerome L. Simon, Board member
- 41SEC EDGARJoseph P. Platt Jr., Board member
- 42SEC EDGARDavid Sigmon, General counsel
- 43SEC EDGARLaura Accurso, General counsel
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- 46SEC EDGARShareholder vote
- 47SEC EDGAREntered a material agreement
- 48SEC EDGARResults of operations
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- 50SEC EDGARResults of operations
- 51SEC EDGARExecutive or director change
- 52SEC EDGARResults of operations
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- 55SEC EDGARResults of operations
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