GREENLIGHT CAPITAL RE, LTD. (GLRE) Form 10-Q — Aug 4, 2026

$GLREForm 10-QFiled Aug 4, 2026, 4:43 PM ET0001385613-26-000098Original filing

Greenlight Capital Re reported a net loss of $29.6 million for Q2 2026, or -$0.89 per diluted share, a sharp swing from net income of $0.3 million ($0.01 diluted EPS) in Q2 2025. The company attributed the loss mainly to catastrophe losses from underwriting and negative investment returns from its related-party fund Solasglas. CAT event losses totaled $26.5 million in the quarter, including $20 million tied to the Middle East conflict and $6.5 million from the QatarEnergy facility explosion, pushing the combined ratio to 100.1% from 95.0% a year earlier.

Key figures

Eps: -$0.89 diluted (Q2 2026); $0.18 YTD 2026
Revenue: $137.5 million (Q2 2026 total revenues)
Net Income: -$29.6 million (Q2 2026); $6.2 million YTD 2026
Total Debt: $9.0 million outstanding principal ($8.8 million carrying value)
Debt Amount: $9.0 million outstanding principal
Revenue Yoy: -14.2% (Q2 2026 vs $160.1 million in Q2 2025)
Total Assets: $2,238.6 million
Cash Position: $603.1 million total cash including $526.8 million restricted; $76.3 million unrestricted
Shares Outstanding: 32881538
Impairment q2: $1.5 million (Innovations private equity portfolio)
Loss ratio q2: 69.3% vs 61.9% in Q2 2025
Combined ratio q2: 100.1% vs 95.0% in Q2 2025
Combined ratio ytd: 98.1% vs 99.9% in YTD 2025
Cat event losses q2: $26.5 million
Cat event losses ytd: $31.5 million ($25 million Middle East conflict; $6.5 million QatarEnergy facility explosion)
Pml 1in250 aggregate: $156.8 million
Share repurchases ytd: $19.2 million / 1,102,065 shares
Net premiums earned q2: $161.8 million (+0.1% YoY)
Pml 1in250 single event: $143.1 million (North Atlantic Hurricane)
Solasglas q2 net return: -5.4% (-$27.9 million)
Solasglas management fee: 1.25% per annum effective May 1, 2026 (reduced from 1.5%)
Solasglas ytd net return: +1.1% (+$5.8 million)
Gross premiums written q2: $183.1 million (+1.9% YoY)
New buyback authorization: $40 million (May 15, 2026 to May 31, 2027)
Book value per share basic: $21.22 (-3.5% QoQ)
Solasglas investment value: $493.4 million (67.5% of total investments)
Book value per share fully diluted: $20.61 (-3.7% QoQ)

Price after filing

1 day: -0.1%7 days: -7.4%30 days: -8.5%

Close on the filing date to close N calendar days later (from $16.65). Historical, not a forecast.

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