Greenlight Capital Re, Ltd. reported stronger results for the three months ended March 31, 2026, driven by improved underwriting and steady investment income. Net income rose to $35.8 million from $29.6 million, and diluted EPS increased to $1.05 from $0.86.
Gross premiums written declined 8.1% to $227.9 million, mainly from lower Open Market casualty and specialty volumes, but the combined ratio improved to 96.0% from 104.6% as catastrophe losses fell and prior-year reserves developed favorably. Net underwriting swung to a $6.2 million profit from a $7.8 million loss.
Total investment income was broadly stable at $40.4 million, including $33.7 million from the Solasglas related fund. Shareholders’ equity increased to $741.2 million, and fully diluted book value per share rose 4.7% since year-end 2025 to $21.40, supported by earnings and share repurchases.
BlackRock, Inc. reports beneficial ownership of 1,969,801 Class A shares of GREENLIGHT CAPITAL RE LTD, representing 5.8% of the Class A stock as disclosed in this Schedule 13G/A. The filing shows sole voting power for 1,941,561 shares and sole dispositive power for 1,969,801 shares. The cover lists 03/31/2026 and the form is signed on 04/27/2026.
Greenlight Capital Re, Ltd. is asking shareholders to vote at its July 28, 2026 annual meeting on three key items: electing eleven directors, ratifying Deloitte Ltd. as auditor for 2026, and approving a non-binding advisory "Say-on-Pay" vote on executive compensation.
The proxy highlights 2025 net income of $74.8 million, gross written premium of $773.3 million and a combined ratio of 94.6%, all improved versus 2024. Return on average equity rose to 11.1%, and AM Best upgraded the group’s financial strength rating to “A” (Excellent).
The Board remains majority independent, proposes expanding from ten to eleven directors, and emphasizes governance practices such as committee-based risk oversight, a clawback policy, share ownership guidelines for directors and a strong focus on corporate responsibility and employee engagement.
GREENLIGHT CAPITAL RE, LTD. Chief Actuary Richard Paul Strommer reported an equity compensation award. He acquired 4,623 ordinary-share–linked restricted stock units at no cash cost, bringing his directly held stake to 72,648 ordinary shares.
The RSUs will vest in equal installments over three years on January 1, subject to his continued service, and convert into ordinary shares upon vesting. This reflects routine stock-based compensation rather than an open-market purchase or sale.
GREENLIGHT CAPITAL RE, LTD. reported that Chief Executive Officer Greg Richardson received an equity grant of 26,417 ordinary shares at no cost as part of his compensation. The award is structured as restricted stock units that vest evenly over three years on January 1, contingent on his continued service. After this grant, he directly holds 106,508 ordinary shares of the company. This is a compensation-related acquisition rather than an open-market share purchase or sale.
GREENLIGHT CAPITAL RE, LTD. reported that Head of Innovations Brian Joseph O'Reilly acquired 6,395 ordinary shares through a compensation grant of restricted stock units (RSUs). The RSUs were awarded at $0.0000 per share, indicating a non-cash equity award rather than a market purchase.
The RSUs will vest evenly over three years on January 1, provided he continues serving the company, and will convert into ordinary shares upon vesting. After this grant, he directly holds 103,530 ordinary shares, reflecting a routine equity-based incentive for an executive.
GREENLIGHT CAPITAL RE, LTD. reported that Chief Financial Officer Faramarz Romer received a grant of 7,705 ordinary shares at no cost, reflecting a share-based compensation award rather than a market purchase or sale.
The award relates to restricted stock units that will vest evenly over three years on January 1, subject to his continuous service with the company, and will convert into ordinary shares upon vesting. Following this grant, he holds 160,186 ordinary shares directly.
Greenlight Capital Re reported that Controller Sherry Diaz received an equity compensation award. Diaz acquired 3,808 ordinary shares at $0.00 per share as a grant, bringing her direct holdings to 100,379 ordinary shares.
The award relates to restricted stock units (RSUs) that will vest evenly over three years on January 1st, provided she continues serving at the company. When each portion vests, the RSUs will be converted into ordinary shares, turning the award into fully owned stock over time.
Greenlight Capital Re, Ltd. entered into updated letter of credit arrangements with CIBC Bank USA, providing aggregate committed LC capacity of $300.0 million for its subsidiaries Greenlight Reinsurance Ireland DAC and Greenlight Reinsurance, Ltd. The facilities mature on December 22, 2027 and are secured by first-priority liens on cash collateral accounts equal to the outstanding letter of credit amounts.
The prior Greenlight Re credit agreement with CIBC dated December 22, 2023 was terminated, and existing GRIL-related letters of credit were rolled into the new GRIL facility. Separately, General Counsel David Sigmon rescinded his previously announced resignation and will continue in his roles under his existing employment agreement.
GREENLIGHT CAPITAL RE, LTD. reported that Controller Sherry Diaz received an equity grant of 3,808 ordinary shares as part of her compensation. These are restricted stock units that will vest evenly over three years on January 1, as long as she remains with the company. When each portion vests, it will convert into ordinary shares. After this grant, Diaz directly holds 100,379 ordinary shares, showing a modest, routine increase in her ownership stake tied to long-term incentives rather than open-market buying.