Quarterly ResultMay 5, 2026, 04:28 PM
Greenlight Capital Re Q1 Net Income $35.75M; EPS $1.06
AI Summary
Greenlight Capital Re reported a significant increase in net income and basic earnings per share for the first quarter of 2026, driven by lower net loss and loss adjustment expenses incurred and favorable prior year reserve development. The company also saw a substantial reduction in catastrophe losses compared to the prior year period. Shareholders' equity grew, and the company continued its share repurchase program.
Key Highlights
- Net income increased to $35.75 million for Q1 2026, up from $29.63 million in Q1 2025.
- Basic EPS rose to $1.06 in Q1 2026, compared to $0.87 in Q1 2025.
- Net premiums earned decreased to $154.15 million in Q1 2026 from $168.46 million in Q1 2025.
- Net loss and loss adjustment expenses incurred significantly decreased to $91.16 million from $122.88 million.
- The company reported $5.0 million in CAT losses for Q1 2026, down from $27.0 million in Q1 2025.
- Favorable prior year reserve development of $2.49 million was recorded in Q1 2026, compared to an adverse development of $4.22 million in Q1 2025.
- Total shareholders' equity increased to $741.17 million as of March 31, 2026, from $707.98 million at December 31, 2025.
- The company repurchased 298,701 ordinary shares for $5.0 million in Q1 2026.
Price Impact
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