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Mar 31, 2024
Greenlight Capital Re Q1 2024 Earnings Report
Delivered strong earnings driven by investment income and underwriting profitability.
Key Takeaways
Greenlight Capital Re reported strong first-quarter earnings, driven by a 16.5% increase in gross premiums written and significant investment income. The company achieved underwriting profitability for the sixth consecutive quarter, with net income of $27.0 million.
Gross premiums written increased by 16.5% to $217.3 million.
Net premiums earned increased by 13.2% to $161.5 million.
Net income was $27.0 million, or $0.78 per diluted ordinary share, compared to $5.9 million, or $0.17 per diluted ordinary share.
The combined ratio improved to 98.0% from 99.8%.
Greenlight Capital Re
Greenlight Capital Re
Forward Guidance
Greenlight Re will host a live conference call to discuss its financial results on Thursday, May 9, 2024, at 9:00 a.m. Eastern Time.