Welcome to our dedicated page for Greenlight Capital Re news (Ticker: GLRE), a resource for investors and traders seeking the latest updates and insights on Greenlight Capital Re stock.
Greenlight Capital Re, Ltd. (NASDAQ: GLRE) is a Cayman Islands-incorporated multiline property and casualty insurer and reinsurer. The GLRE news feed on Stock Titan aggregates company-issued press releases, rating agency announcements, and other coverage that explain how underwriting results, investment performance, and capital management decisions affect the business.
Recent news for Greenlight Capital Re, Ltd. includes quarterly and annual financial results, where the company reports gross premiums written, net premiums earned, underwriting income or loss, combined ratios, and total investment income. Management commentary in these releases discusses the impact of catastrophes, reserve strengthening for prior events, and the performance of the Solasglas investment portfolio on net income and fully diluted book value per share.
GLRE news also features updates on AM Best credit ratings. AM Best has upgraded the Financial Strength Rating of Greenlight Reinsurance, Ltd. and Greenlight Reinsurance Ireland, DAC to A (Excellent) and raised the Long-Term Issuer Credit Ratings of these subsidiaries and the holding company, citing a very strong balance sheet, adequate operating performance, and the company’s status as one of the longest-tenured total return reinsurers.
Investors following GLRE can also find announcements about strategic and organizational developments, such as the restructuring of reportable segments into Open Market and Innovations, and appointments like the Head of Underwriting Analytics, which highlight the company’s focus on underwriting analytics and pricing capabilities. In addition, the news flow covers the scheduling of earnings calls and webcasts, giving details on how to access live and replayed discussions of results.
By reviewing the GLRE news page regularly, readers can track how Greenlight Capital Re, Ltd. describes its underwriting performance, investment outcomes, innovation-related activities, and interactions with rating agencies and lenders over time.
Greenlight Capital Re, Ltd. (GLRE) reported a net income of $14.8 million for Q2 2022, significantly up from $0.6 million in Q2 2021. This translates to $0.37 per diluted share. The combined ratio improved to 91.6% from 96.5% year-over-year, indicating stronger underwriting performance. Total investment income rose to $17.2 million, a substantial increase from $2.0 million in the prior year. However, gross premiums written decreased by 4.8% to $134.8 million, reflecting the company's strategic risk reduction.
Greenlight Capital Re (NASDAQ: GLRE) announced its Q2 2022 earnings release scheduled for August 2, 2022, after market close. A conference call to discuss the results will take place on August 3, 2022, at 9:00 a.m. ET. Investors can access the call via U.S. toll-free number 1-877-407-9753 or internationally at 1-201-493-6739. A replay will be available from August 3 to August 8. Greenlight Re operates in the property and casualty insurance and reinsurance sectors, utilizing a non-traditional investment approach for higher returns.
On May 31, 2022, Greenlight Capital Re, Ltd. (NASDAQ: GLRE) announced an investment in Garentii GmbH, a German security deposit replacement insurance provider. This partnership aims to enhance the renting process by offering an insurance-based alternative to traditional security deposits, which can burden both renters and landlords. Simon Burton, CEO of Greenlight Re, highlighted the success of such products in the U.S. and expressed optimism for their adoption in other markets. Garentii aims to streamline deposit management with a technology platform to benefit landlords and tenants.
Greenlight Capital Re (GLRE) reported a net loss of $5.7 million, or $0.17 per share, for Q1 2022, compared to a net income of $6.5 million, or $0.19 per share, in Q1 2021. The combined ratio increased to 106.2% from 101.5%. Total investment income fell to $7.7 million, down from $18.7 million year-over-year. Gross premiums written decreased by 14.2% to $145.9 million, primarily due to reduced participation in motor and workers' compensation contracts. Fully diluted book value per share declined 2.4% to $13.65.
Greenlight Capital Re (NASDAQ: GLRE) will release its financial results for Q1 2022 on May 3, 2022, after market close. The conference call to discuss these results is scheduled for May 4, 2022, at 9:00 a.m. ET. Investors can participate by dialing U.S. toll-free 1-844-274-4096 or international 1-412-317-5608. A replay will be available until May 11, 2022. Greenlight Re specializes in multiline property and casualty reinsurance, complemented by a non-traditional investment strategy aimed at maximizing long-term returns.
Greenlight Capital Re has received Lloyd’s approval for Syndicate 3456 to start underwriting from April 1, 2022. The syndicate, under the syndicate in a box (SIAB) model, will focus on providing insurance capacity to insurtechs in Greenlight Re’s portfolio. CEO Simon Burton emphasized that this initiative is crucial for the company's growth strategy in the insurtech sector. Asta, the managing agent, highlighted the swift establishment of the syndicate as a testament to the SIAB framework's efficiency.
Greenlight Capital Re (NASDAQ: GLRE) has invested in AuditCover Australia, a tax audit insurtech. AuditCover offers digital audit insurance that protects clients against costs associated with tax audits, unlike traditional labor-intensive processes. The platform aims to streamline service for accountants while enhancing client relationships. CEO Simon Burton highlighted the growing complexity of tax audits, emphasizing AuditCover's potential to capture market growth through technology. The investment aligns with Greenlight Re's strategy to support innovative insurance solutions.
Greenlight Capital Re, Ltd. (NASDAQ: GLRE) reported its 2021 financial results, showing a net income of $24.3 million, or $0.71 per share, down from $42.0 million in Q4 2020. The combined ratio improved to 96.4%, compared to 101.0% a year earlier, while total investment income fell to $25.3 million from $48.4 million. Annual results revealed a net income of $17.6 million for 2021, with a 4.2% increase in diluted book value per share, reaching $13.99. Despite a 5.2 million underwriting loss, gross premiums written increased by 17.8%.
Greenlight Capital Re has scheduled its 2022 Annual General Meeting of Shareholders for July 26, 2022. Shareholders on record will receive notices and voting instructions for the meeting. This reinsurance firm, based in the Cayman Islands, provides multi-line property and casualty reinsurance and employs a non-traditional investment strategy. The company also supports technology innovators through its Greenlight Re Innovations unit.
Greenlight Capital Re (NASDAQ: GLRE) will announce its financial results for Q4 and the year ended December 31, 2021, after market close on March 8, 2022. A conference call to discuss these results is scheduled for March 9, 2022, at 9:00 a.m. Eastern Time. Participants can pre-register for the call to obtain a special dial-in number. A replay of the call will be available from 11:00 a.m. on March 9 until 9:00 a.m. on March 16, 2022. Greenlight Re focuses on multiline property and casualty reinsurance, utilizing innovative investment strategies.
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