GREENLIGHT CAPITAL RE LTD
For the period ended Jun 30, 2024. Filed Aug 6, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 6, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Liquidity
The following table summarizes our sources and uses of funds:
| Six months ended June 30 | ||
|---|---|---|
| 2024 | 2023 | |
| Total cash provided by (used in): | ||
| Operating activities | $40,669 | $566 |
| Investing activities | (70,246) | (7,049) |
| Financing activities | (11,876) | (17,085) |
| Effect of currency exchange on cash(1) | (107) | 351 |
| Net cash inflows (outflows) | (41,560) | (23,217) |
| Cash, beginning of period | 655,730 | 706,548 |
| Cash, end of period | $614,170 | $683,331 |
(1)Cash includes unrestricted and restricted cash and cash equivalents - see Note 5 of the financial statements.
Cash provided by operating activities
The increase in cash provided by operating activities was driven mainly by the ebb and flow from our underwriting activities, which may vary significantly from period to period depending on the mix of business, the nature of underwriting opportunities available and volume of claims submitted to us by our cedents.
Cash used in investing activities
The increase in cash used for investing activities was driven mainly by the net change in our investment in Solasglas where we made a net contribution of $70.0 million for YTD 2024 compared to a net contribution of $9.0 million during the same period in 2023.
Cash used in financing activities
The decrease in cash used in our financing activities was driven mainly by the repurchase of a portion of the outstanding Convertible Notes in the first half of 2023. In Q2 2024, we partially repaid $11.7 million of the Term loans.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.