Greenlight Capital Re, Ltd. reported a significant increase in its financial performance for the fiscal year ending December 31, 2025, with net income rising to $74.8 million, a 74.8% increase from the previous year. This growth was primarily driven by strong underwriting results and favorable foreign exchange movements, despite a 24.4% decline in net investment income. The company’s gross premiums written reached $773.3 million, marking a 10.7% increase compared to 2024, while net premiums earned rose by 6.6% to $661.1 million. The diluted earnings per share also saw a substantial increase, rising to $2.17 from $1.24 in the prior year.
In terms of operational changes, Greenlight Capital Re made strategic moves to enhance its market position, including the acquisition of a Lloyd’s corporate member, GCM, which provides underwriting capacity for various syndicates. This acquisition, completed on January 1, 2023, is expected to complement the company’s existing operations and improve its control over its Funds at Lloyd’s business. Additionally, the company expanded its Innovations segment, which focuses on technology-driven insurance partners, with gross premiums written increasing by 28% to $121.6 million in 2025.
The company’s operational metrics indicate a solid performance across its segments. The Open Market segment reported gross premiums written of $652.2 million, an 8% increase from 2024, while the Innovations segment contributed significantly to growth with a 28% rise in gross premiums. The total number of employees at Greenlight Capital Re stood at 84 as of December 31, 2025, reflecting the company’s commitment to investing in talent to support its growth strategy. The company also maintained a strong balance sheet, with total assets of $2.2 billion and shareholders’ equity of $707.9 million, leading to a 13.8% increase in fully diluted book value per share.
Looking ahead, Greenlight Capital Re anticipates continued growth opportunities in the reinsurance market, particularly in light of its upgraded A.M. Best rating to A (Excellent) and a more competitive market landscape. The company plans to leverage its strong financial position to capitalize on favorable underwriting conditions while managing the impacts of inflation and economic uncertainties. The management remains focused on enhancing shareholder value through strategic investments and maintaining a disciplined approach to underwriting and risk management.
About GREENLIGHT CAPITAL RE, LTD.
Greenlight Capital Re, Ltd. is a global specialty property and casualty reinsurer offering multi-line reinsurance solutions across various markets. It operates through regulated entities in the Cayman Islands, Ireland, and Lloyd’s, focusing on innovative underwriting, strategic investments, and risk management. The company emphasizes long-term shareholder value, diversified risk, and a unique investment approach combining reinsurance and private equity in startups and MGAs.
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