GREENLIGHT CAPITAL RE, LTD. GLRE Income Statement

Greenlight capital re, ltd. (GLRE)

Income statement / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Revenues
Gross premiums written
471,204	523,977	560,650	565,197	554,966	567,531	571,348	637,782	670,562	692,651	702,529	649,146	566,494	536,072	532,118	538,481	539,234	502,124	431,508	394,140	334,804	324,023	374,530	426,095	527,639	535,702	534,921	453,800	402,588	427,844	394,348	419,860	449,140	397,659	458,408	454,208	0	0	0
Gross premiums ceded
27,944	48,667	78,829	90,250	94,346	102,788	115,243	107,718	83,004	56,587	16,147	10,335	11,334	10,015	10,967	11,136	9,482	9,001	7,870	8,288	9,179	13,493	13,260	12,943	12,698	2,780	895	-32,131	-39,247	-24,275	-7,292	32,653	54,438	46,920	33,606	28,309	0	0	0
Net premiums written
443,260	475,310	481,821	474,947	460,620	464,743	456,105	530,064	587,558	636,064	686,382	638,811	555,160	526,057	521,151	527,345	529,752	493,123	423,638	385,852	325,625	310,530	361,270	413,152	514,941	532,922	534,026	485,931	441,835	452,119	401,640	387,207	394,702	350,739	424,802	425,899	0	0	0
Change in net unearned premium reserves
25,979	8,270	12,735	4,559	27,261	43,620	73,744	58,374	32,388	-10,060	-64,831	-77,161	-28,252	-12,939	-24,750	-41,742	-78,046	-84,736	-59,961	-44,678	11,719	43,710	59,302	91,820	35,176	14,977	-9,110	-8,349	32,761	14,595	16,491	-8,285	-60,779	-29,036	42,745	84,789	0	0	0
Net premiums earned
469,239	483,580	494,556	479,506	487,881	508,363	529,849	588,438	619,946	626,004	621,551	561,650	526,908	513,118	496,401	485,603	451,706	408,387	363,677	341,174	337,344	354,240	420,572	504,972	550,117	547,899	524,916	477,582	474,596	466,714	425,279	399,070	376,207	379,775	382,057	341,110	0	0	0
Income (loss) from investment in related party investment fund [net of related party expenses of $662 and $5,432, respectively]
-26,826	46,056	1,222	-15,412	-29,817	-60,573	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net investment income
11,481	6,211	3,455	-70,708	-115,750	-262,533	-272,937	-138,110	-136,603	20,231	89,302	58,271	59,366	76,183	-22,142	-246,409	-228,660	-281,924	-163,636	-26,341	107,896	122,575	133,061	236,536	146,851	218,140	82,615	129,617	68,474	78,941	208,853	113,473	130,900	23,118	-20,694	868	0	0	0
Other income (expense), net
1,450	2,306	317	521	-672	-2,228	-1,582	-1,419	-1,040	-560	-978	-650	-671	-935	-880	-1,230	-5,272	-3,413	-1,172	2,033	4,393	2,987	595	-2,069	-1,157	-950	-102	90	342	-259	159	152	302	253	0	0	0	-	-
Other expense, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Total revenues
455,344	538,153	499,550	393,907	341,642	183,029	245,305	448,909	482,303	645,675	709,875	619,271	585,603	588,366	473,379	237,964	217,774	123,050	198,869	316,866	449,633	479,802	554,228	739,439	695,811	765,089	607,429	607,289	543,412	545,396	634,291	512,695	507,409	403,146	360,726	340,783	0	0	0
Expenses
Net loss and loss adjustment expenses incurred
341,322	388,522	390,792	384,610	390,949	363,873	390,077	472,215	493,416	502,404	477,050	389,599	394,959	380,815	363,327	379,281	344,558	317,097	295,232	250,839	230,830	234,986	276,539	317,877	339,578	338,493	328,322	360,580	369,572	366,601	0	0	0	-	-	-	-	-	-
Loss and loss adjustment expenses incurred, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	241,690	235,251	208,396	0	0	0
Acquisition costs
127,297	117,084	127,972	125,341	122,792	145,475	142,252	151,932	162,738	161,740	160,894	148,727	138,782	134,534	133,572	139,874	128,329	116,207	104,747	95,079	96,710	107,665	119,963	151,006	168,372	171,872	172,724	153,023	147,992	142,721	129,709	127,736	132,655	138,751	145,599	128,217	0	0	0
General and administrative expenses
29,776	29,822	27,607	27,018	26,057	25,173	25,114	26,180	25,569	26,356	28,170	26,905	25,552	25,808	23,928	22,373	24,273	23,434	25,165	25,795	24,460	24,500	22,701	23,774	24,158	21,718	20,707	18,259	16,675	17,539	16,645	13,540	13,517	13,892	14,259	15,821	0	0	0
Interest expense
6,280	6,263	6,262	5,611	4,049	2,505	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total expenses
504,672	541,656	552,598	542,545	543,812	537,026	558,370	650,327	681,723	690,500	666,114	565,231	559,293	541,157	520,827	541,528	497,160	456,738	425,144	371,713	352,000	367,151	419,203	492,657	532,108	532,083	521,753	531,862	534,239	526,861	480,318	411,015	385,444	394,333	395,109	352,434	0	0	0
Income (loss) before income tax
-49,328	-3,503	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income (loss) before income tax
-	-	-	-	-	-	-	-	-	-44,825	43,761	54,040	26,310	47,209	-47,448	-303,564	-279,386	-333,688	-226,275	-54,847	97,633	112,651	135,025	246,782	163,703	233,006	85,676	75,427	9,173	18,535	153,973	101,680	121,965	8,813	-34,383	-11,651	0	0	0
Net income (loss) before income tax expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Income tax (expense) benefit
834	483	1,580	1,404	1,175	332	-1,790	-1,370	-1,342	-451	149	389	426	509	-110	-1,648	-1,336	-1,755	-1,190	-211	-279	-624	-830	-486	-330	538	-80	475	132	86	764	267	508	247	214	116	0	0	0
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
-	-	-	-	-	-354,329	-311,275	-200,048	-198,078	-44,374	43,612	53,651	25,884	46,700	-47,338	-301,916	-278,050	-331,933	-225,085	-54,636	97,912	113,275	135,855	247,268	164,033	232,468	85,756	74,952	9,041	18,449	153,209	101,413	121,457	8,566	0	0	0	-	-
Loss (income) attributable to non-controlling interest in related party joint venture
-	-	-	-	-	-4,275	-4,308	-2,071	-2,000	578	1,636	1,539	1,298	1,819	82	-4,808	-4,341	-5,508	-2,453	87	3,486	3,683	3,021	6,130	3,948	6,769	4,590	4,185	2,843	3,851	0	0	0	-	-	-	-	-	-
Income (loss) attributable to non-controlling interest in joint venture
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,797	-180	518	0	0	0
Net income (loss)
-50,162	-3,986	-54,459	-148,714	-201,396	-350,054	-306,967	-197,977	-196,078	-44,952	41,976	52,112	24,586	44,881	-47,420	-297,108	-273,709	-326,425	-222,632	-54,723	94,426	109,592	132,834	241,138	160,085	225,699	81,166	70,767	6,198	14,598	145,401	94,784	114,892	6,769	-34,417	-12,285	0	0	0
Earnings (loss) per share
Basic (in dollars per share)
-1.11	-0.84	0.14	0.42	0.16	-2.25	-2.48	-1.01	-3.85	-1.02	0.53	-0.96	0.22	1.32	0.80	-1.69	0.77	-1.17	-5.98	-1.06	-0.65	1.62	-1.40	2.94	-0.24	2.27	1.53	0.77	1.54	-1.65	1.26	-0.98	1.78	1.92	-0.12	-0.44	-1.19	0.80	0.48
Diluted (in dollars per share)
-1.11	-0.84	0.14	0.42	0.16	-2.25	-2.48	-1.01	-3.85	-1.02	0.53	-0.96	0.22	1.31	0.80	-1.69	0.77	-1.17	-5.98	-1.06	-0.65	1.60	-1.40	2.89	-0.24	2.22	1.50	0.76	1.52	-1.65	1.23	-0.98	1.75	1.89	-0.12	-0.44	-1.19	0.78	0.47
Weighted average number of ordinary shares used in the determination of earnings and loss per share
Basic (in shares)
36,138	36,121	36,841	36,100	35,972	35,952	35,952	36,952	37,087	37,023	37,345	37,025	37,341	37,381	37,323	37,281	37,107	36,720	36,710	37,303	37,173	37,356	36,984	37,246	36,808	36,908	36,875	36,830	36,730	36,702	36,678	36,660	36,550	36,536	36,153	36,153	36,118	36,452	36,436
Diluted (in shares)
36,138	36,121	36,921	36,829	36,364	35,952	35,952	36,952	37,087	37,023	37,375	37,025	37,376	37,414	37,385	37,281	37,422	36,720	36,710	37,303	37,173	37,905	36,984	37,902	36,808	37,746	37,645	37,537	37,424	36,702	37,402	36,660	37,279	37,203	36,153	36,153	36,118	37,218	37,218