Quarterly ResultAug 4, 2026, 04:48 PM
Greenlight Re Q2 Net Loss $(29.6)M; H1 Net Income $6.2M
AI Summary
Greenlight Capital Re reported a net loss of $(29.6) million for the second quarter of 2026, a significant decline from a net income of $0.3 million in the same period last year. For the first six months of 2026, net income decreased to $6.2 million from $30.0 million year-over-year. The company experienced increased losses from its related party investment fund and incurred $31.5 million in catastrophe losses during the first half of 2026. Despite the financial downturn, Greenlight Re approved a new $40 million share repurchase plan and increased its letter of credit facilities.
Key Highlights
- Q2 2026 net loss was $(29.6) million, compared to net income of $0.3 million in Q2 2025.
- H1 2026 net income was $6.2 million, down from $30.0 million in H1 2025.
- Basic EPS for Q2 2026 was $(0.89), a decrease from $0.01 in Q2 2025.
- Income from related party investment fund was a loss of $(27.9) million in Q2 2026, worsening from $(18.3) million loss in Q2 2025.
- Incurred $31.5 million in catastrophe losses during H1 2026, including Middle East conflict and gas facility explosion.
- Approved a new share repurchase plan of up to $40 million from May 2026 to May 2027.
- Increased CIBC LC Facilities by $100 million to $300 million and Citibank FAL facility by £10 million to £60 million.
- Net favorable prior year reserve development of $1.8 million for H1 2026, compared to adverse development of $(7.3) million in H1 2025.
Price Impact
More from GLRE