GREENLIGHT CAPITAL RE LTD
For the period ended Dec 31, 2023. Filed Mar 5, 2024.
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FY2023 · Filed Mar 5, 2024
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Segment Reporting
- SEGMENT REPORTING
The Company hasone operating segment: Property & Casualty Reinsurance.
A significant portion of the Company’s business is sourced through reinsurance brokers. The following table sets forth the brokers and their subsidiaries that generated more than 10% of our premiums.
| Year ended December 31, | Broker | Premiums | % of Total Premiums |
|---|---|---|---|
| Guy Carpenter (Marsh) | $122,766 | 19.3% | |
| Aon Benfield | 91,642 | 14.4% | |
| 33.7% | |||
| Aon Benfield | $159,421 | 28.3% | |
| Gallagher Re | 91,239 | 16.2% | |
| 44.5% | |||
| Guy Carpenter (Marsh) | $178,336 | 31.5% | |
| Aon Benfield | 139,044 | 24.6% | |
| BMS Group | 63,958 | 11.3% | |
| 67.4% | |||
The following tables provide a breakdown of the Company’s gross premiums written by line and class of business, and by geographic area of risks insured for the periods indicated:
Gross Premiums Written by Line of Business
| 2023 · 2022 · 2021 | ||||||
|---|---|---|---|---|---|---|
| Property | ||||||
| Commercial | $51,859 | 8.1% | $14,750 | 2.6% | $10,853 | 1.9% |
| Motor | 671 | 0.1 | 2,346 | 0.4 | 29,953 | 5.3 |
| Personal | 60,761 | 9.5 | 68,227 | 12.1 | 12,141 | 2.1 |
| Total Property | 113,291 | 17.8 | 85,323 | 15.2 | 52,947 | 9.4 |
| Casualty | ||||||
| General Liability | 96,535 | 15.2 | 60,276 | 10.7 | 18,037 | 3.2 |
| Motor Liability | 16,223 | 2.5 | 8,601 | 1.5 | 118,251 | 20.9 |
| Professional Liability | 11,953 | 1.9 | 1,921 | 0.3 | 316 | 0.1 |
| Workers' Compensation | 10,034 | 1.6 | 28,381 | 5.0 | 62,188 | 11.0 |
| Multi-line | 216,292 | 34.0 | 225,924 | 40.1 | 180,321 | 31.9 |
| Total Casualty | 351,037 | 55.1 | 325,103 | 57.7 | 379,113 | 67.1 |
| Other | ||||||
| Accident & Health | 8,339 | 1.3 | 8,947 | 1.6 | 31,612 | 5.6 |
| Financial | 56,114 | 8.8 | 66,528 | 11.8 | 66,612 | 11.8 |
| Marine | 31,138 | 4.9 | 22,700 | 4.0 | 10,652 | 1.9 |
| Other Specialty | 76,891 | 12.1 | 54,570 | 9.7 | 24,457 | 4.3 |
| Total Other | 172,482 | 27.1 | 152,745 | 27.1 | 133,333 | 23.6 |
| $636,810 | 100.0% | $563,171 | 100.0% | $565,393 | 100.0% | |
Gross Premiums Written by Geographic Area of Risks Insured
| 2023 · 2022 · 2021 | ||||||
|---|---|---|---|---|---|---|
| U.S. and Caribbean | $254,792 | 40.0% | $295,428 | 52.4% | $316,015 | 55.9% |
| Worldwide (1) | 321,578 | 50.5 | 242,561 | 43.1 | 240,285 | 42.5 |
| Asia | 46,936 | 7.4 | 20,334 | 3.6 | 4,609 | 0.8 |
| Europe | 13,504 | 2.1 | 4,848 | 0.9 | 4,484 | 0.8 |
| $636,810 | 100.0% | $563,171 | 100.0% | $565,393 | 100.0% | |
(1) “Worldwide” is composed of contracts that reinsure risks in more than one geographic area and may include risks in the U.S.
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