Greenlight Re(US:GLRE) Globenewswireยท2025-08-04 20:15Core Insights - Greenlight Capital Re reported a combined ratio of 95.0% for Q2 2025, a significant improvement from 99.9% in Q2 2024, indicating enhanced underwriting performance [4][10][11] - The company returned $5 million to shareholders through share buybacks, reflecting its commitment to capital management and shareholder value [2][4] - Despite a 4.0% loss in the Solasglas investment portfolio, the company achieved a net income of $0.3 million for Q2 2025, down from $8.0 million in the same quarter last year [2][4][11] Financial Performance - Gross premiums written increased by 6.3% to $179.6 million in Q2 2025, while net premiums earned rose by 2.0% to $161.6 million [4][10] - The net underwriting income for Q2 2025 was $8.1 million, compared to $0.3 million in Q2 2024, showcasing improved operational efficiency [4][10] - Total investment loss for Q2 2025 was $7.8 million, a decline from total investment income of $15.3 million in the previous year [4][10] Shareholder Value - The fully diluted book value per share increased by 0.5% to $18.97 as of June 30, 2025, up from $18.87 at the end of Q1 2025 [4][10] - The company repurchased $5.0 million of shares at an average cost of $13.99 per share, demonstrating a proactive approach to enhancing shareholder returns [4][10] Segment Performance - For the first half of 2025, gross premiums written rose by 10.7% to $427.6 million, and net premiums earned increased by 3.2% to $330.1 million [4][10] - The combined ratio for the first half of 2025 was 99.9%, slightly worse than 98.9% in the same period of 2024, indicating some challenges in underwriting profitability [4][10] - The net income for the first half of 2025 was $30.0 million, or $0.87 per diluted ordinary share, compared to $35.0 million, or $1.01 per diluted ordinary share, in the prior year [4][10]