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Sep 30, 2022
Greenlight Capital Re Q3 2022 Earnings Report
Reported a net loss for the quarter and a decrease in fully diluted book value per share.
Key Takeaways
Greenlight Capital Re reported a net loss of $18.5 million for the third quarter of 2022, with a fully diluted book value per share decreasing by 3.9% to $13.55. The company's results were impacted by natural catastrophes, inflation, and rising interest rates, but the investment platform and risk management approach helped to mitigate the decline. The Solasglas fund returned 3.6% despite negative returns in most equity markets.
Net loss for the quarter was $18.5 million, or $0.56 per diluted ordinary share.
Fully diluted book value per share decreased 3.9% to $13.55.
Combined ratio was 115.4%, compared to 109.3% in the third quarter of 2021.
Total investment income was $11.6 million, compared to $4.1 million in the third quarter of 2021.