Overview
Greenlight Re Q3 gross premiums written rose 9.5% to $184.4 mln
Company achieved record low combined ratio of 86.6% in Q3
Net loss of $4.4 mln in Q3, compared to net income last year
Outlook
Company did not provide specific forward-looking financial guidance
Result Drivers
UNDERWRITING PERFORMANCE - Record low combined ratio of 86.6% attributed to strong underwriting margins and favorable catastrophe loss activity
INVESTMENT CHALLENGES - Solasglas investment portfolio lost 3.2% due to difficult investment environment, impacting overall results
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Gross Premiums Written | $184.38 mln | ||
Q3 Net Income | -$4.41 mln | ||
Q3 Combined Ratio | 86.60% |
Analyst Coverage
The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 9 three months ago
Press Release: ID:nGNX657gps
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)