NEWS & MEDIA

November 2, 2022

Earnings & Results

Greenlight Re Announces Third Quarter 2022 Financial Results

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

• A net loss of $18.5 million, or $0.56 per diluted ordinary share, compared to a net loss of $13.9 million, or $0.42 per diluted ordinary share, in the third quarter of 2021;
• A combined ratio of 115.4%, compared to a combined ratio of 109.3% in the third quarter of 2021;
• Total investment income of $11.6 million, compared to total investment income of $4.1 million in the third quarter of 2021; and
• A decrease in fully diluted book value per share of $0.55, or 3.9%, to $13.55.

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