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Mar 31, 2023
Greenlight Capital Re Q1 2023 Earnings Report
Financial results for the first quarter of 2023 were announced, featuring increased gross premiums written and a rise in fully diluted book value per share.
Key Takeaways
Greenlight Capital Re reported a net income of $5.9 million, or $0.17 per diluted ordinary share, for the first quarter of 2023, compared to a net loss of $5.7 million in the same period last year. Gross premiums written increased by 27.8% to $186.5 million, and the combined ratio improved to 99.8%.
Gross premiums written increased by 27.8% to $186.5 million.
Net income totaled $5.9 million, or $0.17 per diluted ordinary share.
Underwriting income was $0.4 million, compared to an underwriting loss of $7.7 million in the prior year.
Fully diluted book value per share increased by 1.1% to $14.75.
Forward Guidance
Greenlight Re anticipates that the impact of its underwriting strategy and rate increases will lead to improved combined ratios as 2023 progresses.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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