GREENLIGHT CAPITAL RE LTD
For the period ended Sep 30, 2024. Filed Nov 4, 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.
Sep 30, 2024 · Filed Nov 4, 2024
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Liquidity
The following table summarizes our sources and uses of funds:
| Nine months ended September 30 | ||
|---|---|---|
| 2024 | 2023 | |
| Total cash provided by (used in): | ||
| Operating activities | $81,970 | $(14,630) |
| Investing activities | (97,222) | (22,548) |
| Financing activities | (19,364) | (5,292) |
| Effect of currency exchange on cash(1) | 619 | (152) |
| Net cash outflows | (33,997) | (42,622) |
| Cash, beginning of period | 655,730 | 706,548 |
| Cash, end of period | $621,733 | $663,926 |
(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 contribution of $96.6 million in Solasglas for YTD 2024 compared to a net contribution of $23.0 million during the same period in 2023.
Cash used in financing activities
The increase in cash used in our financing activities was driven mainly by $7.5 million of share repurchases and $11.9 million of debt repayments during YTD 2024, compared to the debt refinancing in YTD 2023 in which we issued $75.0 million of debt to repay $62.1 million of the outstanding convertible senior notes, coupled with $17.2 million of repurchases of these notes.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.