Earnings Releases·Nov 2, 2026, 4:15 PM ET

Greenlight Capital Re — Third Quarter 2026 Earnings Summary

Q3 2026 net income was $3.2 million ($0.10/share), a turnaround from a $4.4 million loss in the prior year period, while nine-month net income fell 63% to $9.4 million ($0.28/share) from $25.6 million; combined ratios worsened to 90.5% in Q3 (from 86.6%) and 95.6% for the nine months (from 95.4%).
Gross premiums written declined 1% to $181.9 million in Q3 and 3% to $592.9 million year-to-date, driven by a benign catastrophe environment and favorable development of Middle East exposures, though total investment losses improved to $4.6 million in Q3 from $17.4 million previously.
Shareholders' equity decreased to $694.5 million as of September 30, 2026, from $708.0 million at year-end 2025, while fully diluted book value per share increased 0.8% to $20.78 in Q3, supported by share repurchases.
The company repurchased $8.0 million of shares in Q3 and an additional $3.3 million in October 2026, with no specific forward-looking financial guidance or quantitative targets provided.