AI Earnings Predictions for Greenlight Capital Re Ltd. (GLRE)

EX-99.1

3 exh991pressreleaseearnings.htm

EX-99.1

Document

GREENLIGHT RE ANNOUNCES FINANCIAL RESULTS FOR THIRD QUARTER AND NINE MONTHS ENDED SEPTEMBER 30, 2026

Delivers Strong Underwriting Result with 90.5% Combined Ratio; Repurchases $8.0 million of ordinary shares during the quarter

GRAND CAYMAN, Cayman Islands – November 2, 2026 – Greenlight Capital Re, Ltd. (NASDAQ: GLRE) (“Greenlight Re” or the “Company”) today reported its financial results for the third quarter and nine months ended September 30, 2026.

Third quarter 2026 Highlights (all comparisons are to third quarter 2025 unless noted otherwise):

•Gross premiums written decreased 1% to $181.9 million;

•Net premiums earned decreased 7% to $153.4 million;

•Net underwriting income of $14.6 million, compared to $22.3 million;

•Combined ratio of 90.5%, compared to 86.6%;

•Total investment loss of $4.6 million, compared to loss of $17.4 million;

•Net income of $3.2 million, or $0.10 per diluted ordinary share, compared to net loss of $4.4 million, or $(0.13) per diluted ordinary share;

•Repurchased $8.0 million of ordinary shares at an average cost of $15.77 per share; and

•Fully diluted book value per share increased 0.8% to $20.78, from $20.61 at June 30, 2026.

Nine months ended September 30, 2026 Highlights (all comparisons are to the same period in 2025):

•Gross premiums written decreased 3% to $592.9 million;

•Net premiums earned decreased 5% to $469.4 million;

•Net underwriting income of $20.6 million compared to $22.6 million;

•Combined ratio of 95.6%, compared to 95.4%;

•Total investment income of $12.0 million, compared to $15.3 million;

•Net income of $9.4 million, or $0.28 per diluted ordinary share, compared to $25.6 million, or $0.74 per diluted ordinary share;

•Repurchased $27.2 million of ordinary shares at an average cost of $16.90 per share; and

•Fully diluted book value per share increased 1.7% to $20.78, from $20.43 at December 31, 2025.

From October 1, 2026, to October 30, 2026, the Company has repurchased an additional $3.3 million of ordinary shares at an average price of $14.95 per share.

Greg Richardson, Chief Executive Officer of Greenlight Re, stated, “We are pleased to report strong underwriting income in the third quarter, aided by a relatively benign catastrophe and large loss environment. The conservative reserving approach we took on Middle East–related exposures last quarter has developed favorably, and our year-to-date underwriting result is now trending in line with our expectations.”

David Einhorn, Chairman of the Board of Directors, said, “The third quarter continued to be challenging for our investment portfolio and Solasglas returned -3.3%. However, our good underwriting result, coupled by gains on our Innovations portfolio and buybacks, contributed to an increase in fully diluted book value per share.”

Greenlight Capital Re, Ltd. Third Quarter 2026 Earnings Call

Greenlight Re will host a live conference call to discuss its financial results on Tuesday, November 3, 2026, at 9:00 a.m. Eastern Time. Dial-in details:

U.S. toll free             1-877-407-9753

International            1-201-493-6739

The conference call can also be accessed via webcast at:

https://event.webcasts.com/starthere.jsp?ei=1731027&tp_key=691022d3df

A telephone replay will be available following the call through November 8, 2026. The replay of the call may be accessed by dialing 1-877-660-6853 (U.S. toll free) or 1-201-612-7415 (international), access code 13755439. An audio file of the call will also be available on the Company’s website, www.greenlightre.com.

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Non-GAAP Financial Measures

In presenting the Company’s results, management has included fully diluted book value per share as a financial measure that is not calculated under standards or rules that comprise accounting principles generally accepted in the United States (GAAP). This measure is referred to as a non-GAAP measure. The non-GAAP measure may be defined or calculated differently by other companies. Management believes the measure allows for a more thorough understanding of the Company’s performance. The non-GAAP measure may not be comparable to similarly titled measures reported by other companies and should be used to monitor our results and should be considered in addition to, and not viewed as a substitute for those measures determined in accordance with GAAP. Reconciliation of the measure to the most comparable GAAP figures is included in the attached financial information in accordance with Regulation G.

Forward-Looking Statements

This news release contains forward-looking statements concerning Greenlight Capital Re, Ltd. and/or its subsidiaries (the “Company”) within the meaning of the U.S. federal securities laws. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. federal securities laws. These statements involve risks and uncertainties that could cause ac

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glre-20260505

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

May 05, 2026

Date of report (Date of earliest event reported)

GREENLIGHT CAPITAL RE, LTD.

(Exact name of registrant as specified in charter)

Cayman Islands001-33493N/A

(State or other jurisdiction of incorporation)

(Commission file number)

(IRS employer identification no.)

65 Market Street

Suite 1207, Jasmine Court

P.O. Box 31110

Camana Bay

Grand Cayman

Cayman IslandsKY1-1205

(Address of principal executive offices)(Zip code)

(205) 291-3440

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered

Ordinary SharesGLRENasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging Growth Company ☐

If an emerging growth company, indicate by check mark if registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition

On May 5, 2026, Greenlight Capital Re, Ltd. (the "Registrant" or "Company") issued a press release announcing its financial results for the first quarter March 31, 2026. A copy of the press release is attached as Exhibit 99.1 to this Form 8-K and incorporated herein by reference. In addition, a copy of the Company's investor presentation is furnished as Exhibit 99.2.

In accordance with general instruction B.2 to Form 8-K, the information set forth in this Item 2.02 (including Exhibits 99.1 and 99.2) shall be deemed “furnished” and not “filed” with the Securities and Exchange Commission for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, (the "Exchange Act"), or otherwise subject to the liabilities of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits

(d) The following exhibits are being filed herewith:

Exhibit No.Description of Exhibit

99.1 Earnings press release, "GREENLIGHT RE ANNOUNCES FINANCIAL RESULTS FOR FIRST QUARTER MARCH 31, 2026", dated May 5, 2026, issued by the Registrant.

99.2 Investor Presentation - First Quarter 2026

104Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

GREENLIGHT CAPITAL RE, LTD.

(Registrant)

By:/s/ Steven Archambault

Name:Steven Archambault

Title:Chief Accounting Officer

Date:May 5, 2026