Q2 2026 Greenlight Capital Re Ltd Earnings Call Transcript
Key Points
- Greenlight Capital Re Ltd (GLRE)'s innovations segment delivered a solid underwriting result with a combined ratio of 89.7% and $2.6 million in underwriting profit.
- The attritional loss ratio improved by 4.3 percentage points to 51.7% in Q2 2026, reflecting better underlying underwriting performance.
- The company received approval in principle to transition its Syndicate-in-a-Box to a full Lloyd's syndicate, enabling further growth and diversification into new channels.
- Greenlight Capital Re Ltd (GLRE) repurchased 4% of its outstanding shares year-to-date, demonstrating a commitment to returning capital at a discount to book value.
- The Solasglas investment portfolio rebounded with a 4.9% return in July, partially offsetting Q2 losses and bringing year-to-date returns to 6.1%.
- Prior year reserve development improved, with releases related to the 2025 California wildfires contributing positively to the combined ratio.
- Greenlight Capital Re Ltd (GLRE) reported a net loss of $29.6 million in Q2 2026, driven by investment losses and a modest underwriting loss.
- The company booked an additional $20 million in loss reserves related to the Middle East conflict, with high uncertainty and limited information for accurate reserving.
- A $6.5 million loss from a QatarEnergy gas facility fire added to underwriting losses, though it was not war-related.
- The Solasglas fund posted a negative 5.4% return in Q2, with significant losses from short AI-adjacent stocks, SOFR futures, and gold.
- Net written premiums decreased by 11% as the company reduced net exposure in response to softening market conditions across most lines.
- The combined ratio for the open market segment was 100.7%, impacted by 20.3 points of cat and large losses, primarily from the specialty book.
Thank you for joining the Greenlight Capital Re second quarter 2026 earnings conference call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the prepared comments. You may press star one at any time to be placed in the question queue. It is now my pleasure to turn the call over to David Sigmon, Greenlight Reâs General Counsel. You may begin.
Thank you, Kevin, and good morning. I would like to remind you that this conference call is being recorded and will be available for replay following the conclusion of the event. An audio replay will also be available under the Investors section of the companyâs website at www.greenlightre.com. Joining us on the call today will be our Chief Executive Officer, Greg Richardson, Chairman of the Board,
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
