Greenlight Re to Report Third-Quarter Results After Market Close, Sets Call Date
Key Facts
Greenlight Capital Re expects to report results for the third quarter and the nine months ended September 30, 2026, after the market closes on November 2, according to a company announcement published via Nasdaq. The company said it will discuss the results on a live call on November 3 at 9:00 a.m. Eastern Time. The dates mark its next reporting milestone after first-half results showed improved underwriting income, against net losses in the second quarter. The company provides multiline property and casualty insurance and reinsurance through its entities in the Cayman Islands and Ireland and its Lloyd’s platform. The stock closed at $14.66 on October 30, according to EL7 data.
In the six months ended June 30, 2026, gross premiums written fell 4% to $411.1 million compared with the same period a year earlier. By contrast, net underwriting income rose to $6 million from $0.3 million in the first half of 2025, according to the company’s filing with the U.S. Securities and Exchange Commission. The figures show a divergence between premium volume and underwriting performance in the first half: the former declined, while the latter increased from a year earlier. This is the backdrop to the third-quarter results, which will provide the latest reading on the insurance business. Investment results remain another element of the company’s financial picture, having weighed on the bottom line in the second quarter.
The combined ratio was 100.1% in the second quarter of 2026, compared with 95.0% in the second quarter of 2025, and the company said catastrophe losses drove the increase. The ratio combines losses and expenses relative to premiums, so the second-quarter reading was directly linked to the impact of those losses on underwriting. In the same period, the company posted a net loss of $29.6 million, or $0.89 per diluted common share, compared with net income of $0.3 million, or $0.01 per share, a year earlier. The second-quarter decline contrasts with the improvement in net underwriting income during the first half, as the net result is also affected by the investment portfolio. The information available here did not include third-quarter results, so the combined ratio or net result cannot yet be compared with the year-earlier period.
In the second quarter, Greenlight Re incurred a total investment loss of $23.8 million, compared with a loss of $7.8 million in the second quarter of 2025. On a book-value basis, diluted book value per share rose 0.9% from the end of 2025 to $20.61 on June 30, from $20.43 at the end of December 2025. The figures show different directions for two measures during the period: investment losses widened year over year, while book value per share increased from the end of the previous year. The company repurchased $14.2 million of common shares in the second quarter, at an average price of $17.69 per share. It then bought an additional $3.9 million of shares between July 1 and August 3, at an average price of $16.42 per share.
In the third quarter of 2025, gross premiums written rose 9.5% to $184.4 million, and net premiums earned increased 8.9% to $165.4 million. Net underwriting income was $22.3 million at the time, compared with $6.1 million in the third quarter of 2024, while the combined ratio fell to 86.6% from 95.9%. Chief Executive Greg Richardson said the 86.6% ratio was "the lowest in the company’s history" and attributed the result to underwriting portfolio performance and favorable catastrophe loss activity. The underwriting improvement coincided with investment pressures: the company recorded a total investment loss of $17.4 million, compared with investment income of $30.3 million a year earlier. The quarter ended with a net loss of $4.4 million, compared with net income of $35.2 million in the third quarter of 2024.
In the third quarter of 2025 as well, Chairman David Einhorn said the Solasglas investment portfolio lost 3.2%, and that long positions did not keep pace with the market’s rise while short positions hurt the overall result. In the second quarter of 2026, the chief executive said the company took a cautious approach to its Middle East exposure and established appropriate reserves during the quarter. The November 3 call is scheduled to provide an opportunity to discuss third-quarter results, following their expected release after the market closes on November 2. These dates give investors an opportunity to review the latest figures for the period ended September 30 and what management will present about them.