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Greenlight Re:

Financial
Information

Highlights

Capital and Surplus

Underwriting Portfolio

Underwriting Ratios

Investment Returns

A.M. Best Ratings

SEC Filings

Financial Statements

XBRL Files

Highlights

Income Statement

USD Millions 12 months

2013

2014

2015

Q4 2015

Q4 2016

Gross Written Premium

535.7

324.0

502.1

502.1

536.1

Net Written Premium

532.9

310.5

493.1

493.1

526.1

Net Earned Premium

547.9

354.2

408.4

408.4

513.1

Net Income (Loss)

225.7

109.6

(326.4)

(326.4)

44.9

Key Ratios

12 months

2013

2014

2015

Q4 2015

Q4 2016

Loss Ratio

61.8%

66.3%

77.6%

77.6%

74.2%

Combined Ratio

97.1%

102.9%

111.8%

111.8%

103.6%

Premiums to Surplus

51%

28%

61%

61%

61.3%

Reserves to Surplus

51%

23%

37%

37%

35.1%

Net Invested Assets to Surplus

128%

120%

123%

123%

122.1%

Reserve Duration

Dec 31st 2015

Dec 31st 2016

Gross Reserves

$

313.7m

100%

$

306.6m

100%

Payable in less than 1 year

$

139.4m

44%

$

144.5m

47%

Payable in 1 to 3 years

$

87.3m

28%

$

84.2m

28%

Payable in 3 to 5 years

$

44.2m

14%

$

34.2m

11%

Payable after 5 years

$

42.8m

14%

$

43.7m

14%

Natural Catastrophe Aggregate Limits

 

Dec 31st 2016

 

Single Event Loss

Aggregate Loss

Maximum Loss ($ in thousands)

196.2m

229.9m

Maximum Loss as % of surplus

22.4%

26.3%

Collateral/Letters of Credit

Facility

Dec 31st 2016

Butterfield Bank (Cayman) Limited

$100.0m

Citibank Europe plc

$400.0m

JP Morgan Chase Bank N.A.

$100.0m

$

 

$600.0m

Issued letters of credit

$255.4m

Remaining facility

$344.6m

Capital and Surplus

Greenlight Re had US$ 874 million in surplus as of Dec 31, 2016

(us $ in millions)

0

200

400

600

800

1000

1200

1400

Period ending

2004

$212

2005

$231

2006

$312

2007

$606

2008

$485

2009

$698

2010

$793

2011

$803

2012

$821

2013

$1051

2014

$1165

2015

$825

2016

$874

Underwriting Portfolio

CURRENT PORTFOLIO AS OF Dec 31 st 2016

Underwriting Ratios

ratio %

0

25

50

75

100

125

calendar year

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

Ratios

years

loss

acquisition

expense

2006

36.4%

39.1%

34.1%

2007

40.3%

39.7%

12.2%

2008

48.3%

36.2%

12.0%

2009

55.4%

32.3%

8.8%

2010

61.5%

35.7%

5.6%

2011

63.6%

36.5%

3.7%

2012

78.5%

30.6%

3.6%

2013

61.8%

31.4%

3.8%

2014

66.3%

30.4%

6.9%

2015

77.6%

28.5%

5.7%

2016

74.2%

26.2%

3.2%

Investment Returns

Investment returns are based on the total assets in our investment account, which are managed by DME Advisors, LP and include the majority of our equity capital and collected premiums.

Our investment advisor and its affiliates manage and expect to manage other client accounts besides ours, some of which have objectives similar to ours. To comply with Regulation FD, our investment returns (net of fees and expenses) are as follows*:

*Investment returns are calculated monthly and compounded to calculate the quarterly and annual returns. Actual investment income may vary depending on cash flows into or out of the investment account. Past performance is not necessarily indicative of future results.

Investment returns are ba...

Jan

Feb

Mar

Apr

May

June

July

Aug

Sept

Oct

Nov

Dec

Year to Date

2017

-0.5

2.0

1.5%

2016

1.2

2.0

-0.6

-0.7

-1.8

-0.9

4.8

-0.4

-1.2

1.7

1.9

1.4

7.2%

2015

-2.8

3.8

-2.6

-0.4

3.5

-4.4

-5.9

-5.5

-3.5

0.7

-4.6

-0.1

-20.2%

2014

-1.5

0.7

0.1

4.2

2.0

1.7

-2.6

0.3

-1.5

2.1

5.5

-2.3

8.7%

2013

3.0

0.3

2.4

-0.1

3.0

-0.8

2.6

0.9

0.5

1.0

4.9

0.6

19.6%

2012

2.7

3.2

0.4

-2.0

-1.5

0.3

2.4

4.0

2.1

-1.4

-0.5

-2.7

7.1%

2011

-0.7

-0.8

-2.0

0.8

0.3

-2.9

1.0

-1.1

0.2

6.9

2.6

-1.8

2.1%

2010

0.4

-0.8

-1.5

-0.1

0.4

2.2

-2.6

4.1

2.2

3.4

-0.9

4.0

11.0%

2009

0.6

-1.6

5.6

6.2

6.5

0.7

3.0

-0.2

1.5

3.8

2.3

0.2

32.1%

2008

-0.9

-1.8

2.0

2.0

5.3

-2.7

-6.6

1.7

-11.5

-12.7

3.4

4.8

-17.6%

2007

0.3

-3.3

-1.2

3.1

5.0

-1.4

-0.6

1.2

-1.3

3.9

-0.3

0.7

5.9%

Expand

As of 28-February-2017, the largest disclosed long positions in our investment portfolio are AerCap, Bayer, CONSOL Energy, General Motors, and gold. DME Advisors, LP discloses to us all investments, but may choose not to disclose certain positions to investors in their affiliated funds, in order to protect its investment strategy. Therefore, on our website we present the relevant largest long positions as disclosed by DME Advisors or its affiliates.

As of 28-February-2017 our investment portfolio is approximately 98% long and 65% short. All exposure information is calculated on a delta adjusted basis and excludes credit default swaps, interest rate swaps, sovereign debt, currencies, commodities, volatility indexes and derivatives on any of these instruments.

The foregoing investment returns are interim and unaudited, and are provided for informational purposes only and are not intended to be used for investment purposes. Neither we nor our data or content providers guarantee the accuracy or completeness of any financial results or other data displayed, nor shall any such party be liable in any way to the reader or any other person, firm or corporation whatsoever for any delays, inaccuracies, errors in, or omission of any such information or data or the transmission thereof, or for any actions taken in reliance thereon or for any damages arising therefrom or occasioned thereby or by reason of nonperformance or interruption, or termination, of the investment results for any cause whatsoever.
Download complete investment returns

As of 28-February-2017, t...

A.M. Best Ratings

Greenlight Reinsurance, Ltd. is rated A- (Excellent) and Greenlight Reinsurance Ireland, DAC is rated A- (Excellent).

Please click here for details.

The Best's Rating Report(s) reproduced on this site appear under license from A.M. Best and do not constitute, either expressly or implied, an endorsement of (Licensee)'s products or services. A.M. Best is not responsible for transcription errors made in presenting Best's Rating Reports. Best’s Rating Reports are copyright © A.M. Best Company and may not be reproduced or distributed without the express written permission of A.M. Best Company. Visitors to this web site are authorized to print a single copy of the Best’s Rating Report(s) displayed here for their own personal use. Any other printing, copying or distribution is strictly prohibited.

Best's Ratings are under continuous review and subject to change and/or affirmation. To confirm the current rating, please visit the A.M.Best web site, www.ambest.com.

See attached for the guide to use of Best's report here 

SEC Filings

 

 

Click the link below to access all SEC filings

 

Edgar Link

 

 

Click the link below to access all statement of changes in beneficial ownership

 

Section 16 Reports of Directors, Officers and Principal Stockholders

 

 

Financial Statements

 

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

Greenlight Capital Re, Ltd. Consolidated

Greenlight Reinsurance, Ltd.

Greenlight Reinsurance Ireland, Designated Activity Company

XBRL Files

 

2016

2015

2014

2013

2012

2011

Quarter 1

Quarter 2

Quarter 3

Quarter 4

Income Statement

USD Millions 12 months

2013

2014

2015

Q4 2015

Q4 2016

Gross Written Premium

535.7

324.0

502.1

502.1

536.1

Net Written Premium

532.9

310.5

493.1

493.1

526.1

Net Earned Premium

547.9

354.2

408.4

408.4

513.1

Net Income (Loss)

225.7

109.6

(326.4)

(326.4)

44.9

Key Ratios

12 months

2013

2014

2015

Q4 2015

Q4 2016

Loss Ratio

61.8%

66.3%

77.6%

77.6%

74.2%

Combined Ratio

97.1%

102.9%

111.8%

111.8%

103.6%

Premiums to Surplus

51%

28%

61%

61%

61.3%

Reserves to Surplus

51%

23%

37%

37%

35.1%

Net Invested Assets to Surplus

128%

120%

123%

123%

122.1%

Reserve Duration

Dec 31st 2015

Dec 31st 2016

Gross Reserves

$

313.7m

100%

$

306.6m

100%

Payable in less than 1 year

$

139.4m

44%

$

144.5m

47%

Payable in 1 to 3 years

$

87.3m

28%

$

84.2m

28%

Payable in 3 to 5 years

$

44.2m

14%

$

34.2m

11%

Payable after 5 years

$

42.8m

14%

$

43.7m

14%

Natural Catastrophe Aggregate Limits

 

Dec 31st 2016

 

Single Event Loss

Aggregate Loss

Maximum Loss ($ in thousands)

196.2m

229.9m

Maximum Loss as % of surplus

22.4%

26.3%

Collateral/Letters of Credit

Facility

Dec 31st 2016

Butterfield Bank (Cayman) Limited

$100.0m

Citibank Europe plc

$400.0m

JP Morgan Chase Bank N.A.

$100.0m

$

 

$600.0m

Issued letters of credit

$255.4m

Remaining facility

$344.6m

Greenlight Re had US$ 874 million in surplus as of Dec 31, 2016

(us $ in millions)

0

200

400

600

800

1000

1200

1400

Period ending

2004

$212

2005

$231

2006

$312

2007

$606

2008

$485

2009

$698

2010

$793

2011

$803

2012

$821

2013

$1051

2014

$1165

2015

$825

2016

$874

ratio %

0

25

50

75

100

125

calendar year

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

Ratios

years

loss

acquisition

expense

2006

36.4%

39.1%

34.1%

2007

40.3%

39.7%

12.2%

2008

48.3%

36.2%

12.0%

2009

55.4%

32.3%

8.8%

2010

61.5%

35.7%

5.6%

2011

63.6%

36.5%

3.7%

2012

78.5%

30.6%

3.6%

2013

61.8%

31.4%

3.8%

2014

66.3%

30.4%

6.9%

2015

77.6%

28.5%

5.7%

2016

74.2%

26.2%

3.2%