NEWS & MEDIA

March 8, 2022

Earnings & Results

Greenlight Re Announces Fourth Quarter And Year End 2021 Financial Results

GRAND CAYMAN, Cayman Islands – March 8, 2022 – Greenlight Capital Re, Ltd. (NASDAQ: GLRE) (“Greenlight Re” or the “Company”) today reported its financial results for the quarter and year ended December 31, 2021. The results included:

• Net income of $24.3 million, or $0.71 per share, compared to net income of $42.0 million, or$1.20 per share, in the fourth quarter of 2020;
• Combined ratio of 96.4%, compared to a combined ratio of 101.0% in the fourth quarter of 2020;
• Total investment income of $25.3 million, compared to total investment income of $48.4 million in the fourth quarter of 2020; and
• An increase in fully diluted book value per share of $0.74, or 5.6%, to $13.99.

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