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Greenlight Re(GLRE) - 2023 Q4 - Annual Results
2024-03-05 21:30
Premiums and Underwriting Performance - Gross premiums written decreased 11.8% to $112.3 million in Q4 2023, while net premiums earned increased 23.4% to $137.4 million[5]. - Full year gross premiums written increased 13.1% to $636.8 million, with net premiums earned rising 24.2% to $583.1 million[10]. - The increase in gross premiums written for the full year was driven by a 32.8% increase in Property premiums, an 8.0% increase in Casualty premiums, and a 12.9% increase in Specialty premiums[10]. - Net underwriting income for Q4 2023 was $11,755,000, compared to $6,519,000 in Q4 2022, reflecting an increase of 80.5%[22]. - The loss ratio for property insurance in Q4 2023 was 44.8%, a significant improvement from 82.6% in Q4 2022[24]. - Underwriting income for the full year 2023 was $32.0 million, compared to an underwriting loss of $10.7 million in 2022, resulting in a combined ratio improvement from 102.3% to 94.5%[11]. - The combined ratio for Q4 2023 improved to 91.4%, down from 94.2% in Q4 2022, driven by better pricing on the in-force underwriting book[7]. Financial Performance - Net income for Q4 2023 was $17.6 million, or $0.50 per diluted ordinary share, down from $34.8 million, or $0.91 per diluted ordinary share in Q4 2022[5]. - Net income for the year ended December 31, 2023, was $86,830,000, significantly higher than $25,342,000 in 2022[22]. - Basic earnings per share for the year ended December 31, 2023, was $2.55, compared to $0.75 in 2022, representing a 240% increase[22]. Investment Income - Total investment income for Q4 2023 was $13.6 million, down from $32.5 million in Q4 2022, while full year investment income was $66.1 million compared to $69.0 million in 2022[12]. - Total investment income for the year ended December 31, 2023, was $66,063,000, slightly down from $68,983,000 in 2022[22]. Shareholder Value - Fully diluted book value per share increased by $2.41, or 16.8%, to $16.74 at December 31, 2023, compared to $14.33 at the end of 2022[13]. - Fully diluted book value per share as of December 31, 2023, was $16.74, up from $14.33 in 2022, indicating growth in shareholder value[33]. Management and Future Outlook - The company successfully executed several executive management transitions and is well positioned for growth in 2024[4]. - Acquisition costs for the year increased to $168,877,000 from $143,148,000 in 2022, reflecting a rise of 18%[22]. Foreign Exchange Impact - The company reported foreign exchange gains of $3.9 million in Q4 2023, primarily due to the strengthening of the pound sterling[8].
Greenlight Re(GLRE) - 2023 Q3 - Earnings Call Transcript
2023-11-09 20:10
Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Q3 2023 Earnings Conference Call November 9, 2023 9:00 AM ET Company Participants David Sigmon - General Counsel Simon Burton - CEO David Einhorn - Chairman Faramarz Romer - CFO Conference Call Participants Anthony Mottolese - Dowling & Partners Ben Billiard - Pergam Operator Thank you for joining the Greenlight Capital Re Limited Third Quarter 2023 Earnings Conference. At this time, participants are in a listen-only mode. A question-and-answer session will follow t ...
Greenlight Re(GLRE) - 2023 Q3 - Quarterly Report
2023-11-08 21:22
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________ FORM 10-Q __________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-33493 ________________________________________________________________ ...
Greenlight Re(GLRE) - 2023 Q2 - Earnings Call Transcript
2023-08-06 13:00
Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Q2 2023 Earnings Conference Call August 3, 2023 9:00 AM ET Company Participants David Sigmon - General Counsel Simon Burton - Chief Executive Officer David Einhorn - Chairman of the Board Faramarz Romer - Chief Financial Officer Conference Call Participants Operator Thank you for joining the Greenlight Capital Re's Second Quarter Earnings Conference. [Operator Instructions] I would like to remind you that this conference call is being recorded and will be available ...
Greenlight Re(GLRE) - 2023 Q2 - Quarterly Report
2023-08-02 21:13
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________ FORM 10-Q __________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-33493 _____________________________________________________________________ ...
Greenlight Re(GLRE) - 2023 Q1 - Earnings Call Transcript
2023-05-10 18:47
Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Q1 2023 Earnings Conference Call May 10, 2023 9:00 AM ET Company Participants Karin Daly – Investor Relations Representative-Greenlight Re and Vice President-Equity Group Simon Burton – Chief Executive Officer David Einhorn – Chairman of the Board Faramarz Romer – Chief Financial Officer Conference Call Participants Anthony Mottolese – Dowling & Partners David Schiff – Schiff's Insurance Observer Operator Hello, and thank you for joining the Greenlight Capital Re Fi ...
Greenlight Re(GLRE) - 2023 Q1 - Quarterly Report
2023-05-09 20:54
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________ FORM 10-Q __________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-33493 ____________________________________________________________________ ...
Greenlight Re(GLRE) - 2022 Q4 - Earnings Call Transcript
2023-03-09 15:23
Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Q4 2022 Results Conference Call March 9, 2023 9:00 AM ET Company Participants Karin Daly - Investor Relations Simon Burton - Chief Executive Officer David Einhorn - Chairman of the Board Neil Greenspan - Chief Financial Officer Faramarz Romer - Chief Accounting Officer Operator Thank you for joining the Greenlight Capital Re Limited Fourth Quarter and Year-End December 31, 2022, Earnings Conference Call. [Operator Instructions] It is now my pleasure to turn the call ...
Greenlight Re(GLRE) - 2022 Q4 - Annual Report
2023-03-08 21:34
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-33493 Greenlight Capital Re, Ltd. (Exact Name of Registrant as Specified in Its Charter) Cayman Islands N/A (State or other jurisdiction of inco ...
Greenlight Re(GLRE) - 2022 Q3 - Earnings Call Transcript
2022-11-05 22:03
Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Q3 2022 Results Conference Call November 3, 2022 9:00 AM ET Company Participants Simon Burton - Chief Executive Officer David Einhorn - Chairman Neil Greenspan - Chief Financial Officer Operator Thank you for joining the Greenlight Re Conference Call for the Third Quarter of 2022 Earnings. The Company reminds you that forward-looking statements that may be made in this call are intended to be covered by the safe harbor provisions of the Private Securities Litigation ...