GREENLIGHT CAPITAL RE LTD
For the period ended Dec 31, 2024. Filed Mar 10, 2025.
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FY2024 · Filed Mar 10, 2025
GLRE$16.37+1.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Schedule II – Condensed Financial Information of Registrant
SCHEDULE II
CONDENSED BALANCE SHEETS — PARENT COMPANY ONLY
| December 31, 2024 | December 31, 2023 | |
|---|---|---|
| Assets | ||
| Cash and cash equivalents | $5,297 | $1,924 |
| Investment in subsidiaries | 690,932 | 667,732 |
| Due from subsidiaries | 154 | — |
| Other assets | 542 | 628 |
| Total assets | $696,925 | $670,284 |
| Liabilities and equity | ||
| Liabilities | ||
| Debt | $60,749 | $73,281 |
| Other liabilities | 282 | 712 |
| Due to subsidiaries | 15 | 196 |
| Total liabilities | 61,046 | 74,189 |
| Shareholders’ equity | ||
| Share capital | 3,483 | 3,534 |
| Additional paid-in capital | 481,551 | 484,532 |
| Retained earnings | 150,845 | 108,029 |
| Total shareholders’ equity | 635,879 | 596,095 |
| Total liabilities and equity | $696,925 | $670,284 |
CONDENSED STATEMENT OF OPERATIONS — PARENT COMPANY ONLY
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Revenue | |||
| Net investment income | $143 | $5 | $1 |
| Other income (expense) | (60) | 239 | 366 |
| Total revenues | 83 | 244 | 367 |
| Expenses | |||
| Corporate expenses | 6,059 | 9,042 | 6,887 |
| Interest expense | 5,836 | 5,344 | 4,201 |
| Total expenses | 11,895 | 14,386 | 11,088 |
| Loss before equity in net income of subsidiaries | (11,812) | (14,142) | (10,721) |
| Equity in net income of subsidiaries | 54,628 | 100,972 | 36,063 |
| Net income | $42,816 | $86,830 | $25,342 |
| Comprehensive income | $42,816 | $86,830 | $25,342 |
SCHEDULE II (continued)
CONDENSED STATEMENTS OF CASH FLOWS — PARENT COMPANY ONLY
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Cash flows from operating activities | |||
| Net income | $42,816 | $86,830 | $25,342 |
| Adjustments to reconcile net income or loss to net cash provided by (used in) operating activities: | |||
| Equity in earnings of consolidated subsidiaries | (54,628) | (100,972) | (36,063) |
| Net realized gain on repurchases of convertible senior notes payable | — | (265) | (343) |
| Share-based compensation expense | 3,884 | 5,550 | 4,028 |
| Accretion of debt offering costs, net of change in interest accruals | 1,220 | (1,696) | 79 |
| Net change in: | |||
| Due from subsidiaries | (154) | 28,400 | (28,400) |
| Other assets | 86 | 125 | (753) |
| Other liabilities | (430) | 631 | (69) |
| Due to subsidiaries | (181) | (635) | (2,071) |
| Net cash provided by (used in) operating activities | (7,387) | 17,968 | (38,250) |
| Cash flows from investing activities | |||
| Dividends and return of capital from subsidiaries | 42,500 | 8,316 | 60,125 |
| Contributions to subsidiaries | (10,500) | (20,043) | (1,557) |
| Net cash provided by (used in) investing activities | 32,000 | (11,727) | 58,568 |
| Cash flows from financing activities | |||
| Proceeds from Term Loans | — | 75,000 | — |
| Repayment of Term Loans | (13,752) | (947) | — |
| Repayment of convertible senior notes payable | — | (62,147) | — |
| Repurchase of convertible senior notes payable | — | (17,198) | (19,793) |
| Repurchase of shares | (7,488) | — | (35) |
| Net cash used in financing activities | (21,240) | (5,292) | (19,828) |
| Net increase (decrease) in cash and cash equivalents | 3,373 | 949 | 490 |
| Cash and cash equivalents at beginning of the year | 1,924 | 975 | 485 |
| Cash and cash equivalents at end of the year | $5,297 | $1,924 | $975 |
| Supplementary information | |||
| Non cash consideration to subsidiaries, net | $(572) | $(595) | $(656) |
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