Greenlight Reinsurance, Ltd. (GLRE) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
65 MARKET STREET, SUITE 1207, GRAND CAYMAN, KY1-1205 |
| State of Incorp. | |
| Fiscal Year End | December 31 |
| Industry (SIC) | 6331 - Fire, Marine, and Casualty Insurance (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 38,238 | 76,307 | 8,935 | 25,813 | 55,123 | 1,238,137 | |||
| Cash and cash equivalents | 38,238 | 76,307 | 8,935 | 25,813 | 18,215 | 27,285 | |||
| Short-term investments | 36,908 | 1,210,852 | |||||||
| Total current assets: | 38,238 | 76,307 | 8,935 | 25,813 | 55,123 | 1,238,137 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 1,900 | 2,400 | 100 | 300 | ✕ | ✕ | |||
| Long-term investments and receivables | 178,197 | 183,591 | 166,735 | 240,056 | |||||
| Long-term investments | 178,197 | 183,591 | 166,735 | 240,056 | |||||
| Total noncurrent assets: | 180,097 | 185,991 | 166,835 | 240,356 | |||||
| Other undisclosed assets | 1,362,046 | 1,165,196 | 1,181,880 | 1,089,024 | 1,380,322 | 2,119,256 | |||
| TOTAL ASSETS: | 1,580,381 | 1,427,494 | 1,357,650 | 1,355,193 | 1,435,445 | 3,357,393 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Noncurrent Liabilities | |||||||||
| Other undisclosed liabilities | 1,077,261 | 951,831 | 892,793 | 878,010 | 955,981 | 2,505,967 | |||
| Total liabilities: | 1,077,261 | 951,831 | 892,793 | 878,010 | 955,981 | 2,505,967 | |||
| Temporary equity, carrying amount | 1,692 | 7,169 | |||||||
| Equity | |||||||||
| Equity, attributable to parent | 503,120 | 475,663 | 464,857 | 477,183 | 477,287 | 831,324 | |||
| Common stock | 3,482 | 3,384 | 3,452 | 3,699 | 3,638 | 3,736 | |||
| Additional paid in capital | 478,439 | 481,784 | 488,488 | 503,547 | 499,726 | 503,316 | |||
| Retained earnings (accumulated deficit) | 21,199 | (9,505) | (27,083) | (30,063) | (26,077) | 324,272 | |||
| Equity, attributable to noncontrolling interest | 485 | 12,933 | |||||||
| Total equity: | 503,120 | 475,663 | 464,857 | 477,183 | 477,772 | 844,257 | |||
| TOTAL LIABILITIES AND EQUITY: | 1,580,381 | 1,427,494 | 1,357,650 | 1,355,193 | 1,435,445 | 3,357,393 | |||
Income Statement (P&L) ($ in thousands)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 526,683 | 588,551 | 484,092 | 538,153 | 183,029 | 645,675 | ||
| Premiums earned, net | 469,477 | 539,279 | 455,411 | 483,580 | ✕ | |||
| Financial services revenue | ✕ | ✕ | ✕ | ✕ | ✕ | 508,363 | 626,004 | |
| Cost of revenue | (459,633) | (534,940) | (462,121) | (505,571) | (509,348) | (664,144) | ||
| Policyholder benefits and claims incurred, net | (316,485) | (374,980) | (337,833) | (388,487) | ✕ | |||
| Deferred policy acquisition costs, amortization expense | (143,148) | (144,960) | (109,288) | (117,084) | (145,475) | (161,740) | ||
| Financial services costs | ✕ | ✕ | ✕ | ✕ | ✕ | (363,873) | (502,404) | |
| Gross profit: | 67,050 | 53,611 | 21,971 | 32,582 | (326,319) | (18,469) | ||
| Operating expenses | (47,656) | (36,897) | (26,115) | (29,822) | (25,173) | (26,356) | ||
| Other operating income (expense), net | (880) | 3,149 | ||||||
| Operating income (loss): | 19,394 | 15,834 | (995) | 2,760 | (351,492) | (44,825) | ||
| Nonoperating income | 4,691 | 155 | 5,336 | |||||
| Investment income, nonoperating | 10,865 | 200 | 5,419 | |||||
| Loss, foreign currency transaction, before tax | (6,174) | (45) | (83) | |||||
| Interest and debt expense | (10,232) | (17,918) | (480) | (2,329) | (2,505) | (600) | ||
| Other undisclosed income from continuing operations before equity method investments, income taxes | 600 | |||||||
| Income (loss) from continuing operations before equity method investments, income taxes: | 13,853 | (1,929) | 3,861 | 431 | (353,997) | (44,825) | ||
| Income from equity method investments | 843 | |||||||
| Income (loss) from continuing operations before income taxes: | 13,853 | (1,929) | 4,704 | 431 | (353,997) | (44,825) | ||
| Income tax expense (benefit) | 816 | (3,746) | (424) | (483) | (332) | 451 | ||
| Income (loss) from continuing operations: | 14,669 | (5,675) | 4,280 | (52) | (354,329) | (44,374) | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | (5,675) | 4,280 | (52) | (354,329) | (44,374) | |
| Other undisclosed net income (loss) | 10,673 | 23,253 | (414) | (3,934) | ||||
| Net income (loss): | 25,342 | 17,578 | 3,866 | (3,986) | (354,329) | (44,374) | ||
| Net income (loss) attributable to noncontrolling interest | 4,275 | (578) | ||||||
| Net income (loss) available to common stockholders, basic: | 25,342 | 17,578 | 3,866 | (3,986) | (350,054) | (44,952) | ||
| Interest on convertible debt | 4,201 | |||||||
| Other undisclosed net loss available to common stockholders, diluted | (343) | |||||||
| Net income (loss) available to common stockholders, diluted: | 29,200 | 17,578 | 3,866 | (3,986) | (350,054) | (44,952) | ||
Comprehensive Income ($ in thousands)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 25,342 | 17,578 | 3,866 | (3,986) | (354,329) | (44,374) | ||
| Comprehensive income (loss): | 25,342 | 17,578 | 3,866 | (3,986) | (354,329) | (44,374) | ||
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | 4,275 | (578) | ||||||
| Comprehensive income (loss), net of tax, attributable to parent: | 25,342 | 17,578 | 3,866 | (3,986) | (350,054) | (44,952) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.