Worked as engineer. Filed 7 patents. Became fascinated with EMT. Started hedge fund from scratch. After 20 years still welcome at family Thanksgiving dinners. Markets are mostly efficient but not always, knowing the difference...priceless. Investment process is looking for top shelf management that operates a business with an enduring competitive advantage with catalysts to drive earnings. Regular guest speaker, finance department, Iowa State University.Analyst’s Disclosure:I/we have a beneficial long posit ...

Greenlight Capital Re (GLRE) Q1 2025 Earnings Call May 08, 2025 09:00 AM ET Company Participants David Sigmon - General Counsel, Corporate Secretary & Chief Compliance OfficerGreg Richardson - CEO & DirectorDavid Einhorn - Chairman of the BoardFaramarz Romer - Chief Financial Officer Operator Thank you for joining the Greenlight Capital Re Limited First Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. A question and answer session will follow the ...

Greenlight Capital Re (GLRE) Q1 2025 Earnings Call May 08, 2025 09:00 AM ET Speaker0 Thank you for joining the Greenlight Capital Re Limited First Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. A question and answer session will follow the prepared comments. It is now my pleasure to turn the call over to David Sigman, Greenlight Re's General Counsel. Thank you. Please go ahead. Speaker1 Thank you, and good morning. I would like to remind you th ...

David Einhorn, Chairman of the Board of Directors, said, "Our investment portfolio performed well during what appears to be the beginning of a bear market. We are positioning Solasglas to have low gross and net exposure as we ride out what should be a period of high volatility ahead of what we expect will be an improved investment opportunity set." GREENLIGHT RE ANNOUNCES FIRST QUARTER 2025 FINANCIAL RESULTS Net Income Expands to $29.6 million Despite California Wildfire Losses, Leading to Fully Diluted Boo ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________ FORM 10-Q __________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-33493 ____________________________________________________________________ ...

Net Income Expands to $29.6 million Despite California Wildfire Losses, Leading to Fully Diluted Book Value Per Share Growth of 5.1% GRAND CAYMAN, Cayman Islands, May 07, 2025 (GLOBE NEWSWIRE) -- Greenlight Capital Re, Ltd. (NASDAQ: GLRE) (“Greenlight Re” or the “Company”) today reported its financial results for the first quarter ended March 31, 2025. First Quarter 2025 Highlights (all comparisons are to first quarter 2024 unless noted otherwise): Gross premiums written increased 14.1% to $247.9 million;N ...

Core Viewpoint - Greenlight Capital Re, Ltd. is set to release its financial results for the first quarter of 2025 on May 7, 2025, with a conference call scheduled for May 8, 2025, to discuss these results [1]. Group 1: Financial Results Announcement - The company will announce its first quarter financial results after market close on May 7, 2025 [1]. - A live conference call to discuss the financial results will take place on May 8, 2025, at 9:00 a.m. Eastern Time [1]. Group 2: Conference Call Details - Participants can join the conference call by dialing U.S. toll-free 1-877-407-9753 or international 1-201-493-6739 [2]. - The conference call will also be available via webcast [2]. - A telephone replay of the call will be accessible until May 13, 2025 [2]. Group 3: Company Overview - Greenlight Re provides multiline property and casualty insurance and reinsurance through its licensed entities in the Cayman Islands and Ireland [3]. - The company employs a non-traditional investment approach aimed at achieving higher long-term returns compared to traditional reinsurance investment strategies [3]. - Greenlight Re Innovations supports technology innovators in the (re)insurance sector by offering investment capital and risk capacity [3].

GRAND CAYMAN, Cayman Islands, May 01, 2025 (GLOBE NEWSWIRE) -- Greenlight Reinsurance, Ltd. (“Greenlight Re” or the “Company”), a subsidiary of Greenlight Capital Re, Ltd. (NASDAQ: GLRE), today announced the appointment of Martin Vezina as Head of Underwriting Analytics with immediate effect. In this capacity, Vezina will play a pivotal role in overseeing Greenlight Re’s underwriting analytics and pricing function and will be based out of the Company’s headquarters in Grand Cayman. “I am excited to join Gre ...

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Q4 2024 Earnings Conference Call March 11, 2025 9:00 AM ET Company Participants David Sigmon - General Counsel Greg Richardson - Executive Officer David Einhorn - Chairman of the Board Faramarz Romer - Chief Financial Officer Conference Call Participants Anthony Mottolese - Dowling & Partners Eric Hagen - BTIG Operator At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. It's now my pleasure to ...

Financial Data and Key Metrics Changes - In Q4 2024, the company reported a net loss of $27.4 million, translating to a loss of $0.81 per diluted share, compared to net income of $17.6 million or $0.50 per diluted share in Q4 2023 [32] - The combined ratio for Q4 2024 was 112.1%, with a net underwriting loss of $18 million [8][33] - For the full year 2024, net income was $42.8 million, resulting in a 7.2% increase in fully diluted book value per share to $17.95 [12][43] Business Line Data and Key Metrics Changes - The open market segment's net earned premiums increased by 25% to $127.8 million in Q4 2024, while the combined ratio for this segment was 111.1% [37] - The innovation segment's net earned premiums decreased by 18.1% to $19 million in Q4 2024, with a combined ratio of 102.1% [40] - For the full year 2024, the open market segment's net earned premiums increased by 9.7% to $511.9 million, while the innovation segment's net earned premiums increased by 20.3% to $86.4 million [39][42] Market Data and Key Metrics Changes - The company experienced $17.6 million in catastrophe losses in Q4 2024, with Hurricane Milton being the most significant at $7.5 million [9] - The North Atlantic hurricane exposure increased by 16% to $116.3 million on a one-in-250th occurrence basis [18] Company Strategy and Development Direction - The company has split its financial results into two segments: open market and innovations, reflecting its growth strategy [12] - The company is optimistic about the prospects of its funded at Lloyd's (FAL) book, expecting it to grow by approximately 25% in 2025 [15] - The company aims to be strategic and targeted in its casualty underwriting, focusing on smaller programs while being cautious in the current loss environment [63][65] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges faced in Q4 2024 but expressed optimism about future opportunities, emphasizing the importance of reinsurance and adequate rates [20][21] - The company anticipates claims related to the Russia-Ukraine conflict and has strengthened its reserves in anticipation of these claims [52] - Management believes the current in-force book can deliver double-digit growth in book value per share despite recent challenges [43] Other Important Information - The company reported a consolidated combined ratio of 101.4% for the full year 2024, resulting in a small underwriting loss of $8.2 million [42] - The Solus Glass Fund returned negative 1.9% in Q4 2024, with a full-year return of 9.8% compared to a 25% return in the S&P 500 [29] Q&A Session Summary Question: Can you provide more information on the Q4 charge related to Russia-Ukraine? - Management explained that the charge reflects their best estimate of ultimate losses, with some uncertainty but limited by the number of aircraft involved and retrocession coverage [48][49][52] Question: What are the adverse development trends in casualty books? - Management noted that while there are adverse developments, they are primarily from older years and not considered hugely problematic for the company [58][61] Question: How does casualty fit into the growth profile today? - Management expressed caution in the casualty market but indicated that there are opportunities in smaller programs [62][65] Question: How do you see capital allocation changing with upcoming renewals? - Management stated that while there may be incremental changes, they continue to find returns on their Silpe investment strategy attractive [70][72] Question: What is the target rate of return for the MicroStrategy arbitrage? - Management indicated that the return on the MicroStrategy position has been exceedingly high, likely annualizing nearly triple digits [78]