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Sep 30, 2021
Greenlight Capital Re Q3 2021 Earnings Report
Reported a net loss due to catastrophe events, but underlying combined ratio improved.
Key Takeaways
Greenlight Capital Re reported a net loss of $13.9 million for the third quarter of 2021, driven by significant catastrophe losses. However, the adjusted combined ratio, excluding catastrophes, improved compared to the previous year, and the Innovations unit delivered positive investment returns.
Net loss of $13.9 million, or $0.42 per share, compared to net income of $2.2 million, or $0.06 per share, in the third quarter of 2020.
Combined ratio increased to 109.3%, compared to 100.4% in the third quarter of 2020.
Adjusted combined ratio improved to 90.3%, compared to 93.6% in the third quarter of 2020.
Total investment income was $4.1 million, compared to $6.9 million in the third quarter of 2020.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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