NEWS & MEDIA

May 3, 2022

Earnings & Results

Greenlight Re Announces First Quarter 2022 Financial Results

GRAND CAYMAN, Cayman Islands - May 3, 2022 - Greenlight Capital Re, Ltd. (NASDAQ: GLRE) (“Greenlight Re” or the “Company”) today reported its financial results for the three months ended March 31, 2022. The results included:

• A net loss of $5.7 million, or $0.17 per share, compared to net income of $6.5 million, or $0.19 per share, in the first quarter of 2021;
• A combined ratio of 106.2%, compared to a combined ratio of 101.5% in the first quarter of 2021;
• Total investment income of $7.7 million, compared to total investment income of $18.7 million in the first quarter of 2021; and
• A decrease in fully diluted book value per share of $0.34, or 2.4%, to $13.65.

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