NEWS & MEDIA

August 2, 2022

Earnings & Results

Greenlight Re Announces Second Quarter 2022 Financial Results

GRAND CAYMAN, Cayman Islands – August 2, 2022 – Greenlight Capital Re, Ltd. (NASDAQ: GLRE) (“Greenlight Re” or the “Company”) today reported its financial results for the three months ended June 30, 2022. The results included:

• Net income of $14.8 million, or $0.37 per diluted ordinary share, compared to net income of $0.6 million, or $0.02 per diluted ordinary share, in the second quarter of 2021;
• A combined ratio of 91.6%, compared to a combined ratio of 96.5% in the second quarter of 2021;
• Total investment income of $17.2 million, compared to total investment income of $2.0 million in the second quarter of 2021; and
• An increase in fully diluted book value per share of $0.45, or 3.3%, to $14.10.

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