What is Greenlight Capital RE, Ltd.'s specialty — year 1?

Greenlight Capital RE, Ltd. (GLRE) reported specialty — year 1 of 26.6% in Q4 2025.

What does specialty — year 1 mean?

This metric represents the specialty segment's underwriting performance or claims development during the first year of a policy cohort. It is used to analyze the initial loss emergence and profitability trends for the most recent underwriting period. Investors use this to gauge the immediate impact of current specialty underwriting decisions.

Greenlight Capital RE, Ltd. GLRE Specialty — Year 1

Other product segments

Health

114.6%0.0%

Multiline

90.2%-4.4%

Property

48.1%-2.4%

Financial

28%-31.0%

Casualty

23.2%-1.7%

Similar metrics at other companies

SPNTOther Specialties — Year 1

43.9%+2.6pp

HMNSpecialty Health — Year One

61.3%-8.1pp

WTMSpecialty — Prior Year

-$6.8M-179%

KMPRSpecialty Personal Automobile Insurance—Liability — Year 1

37.2%-0.8pp

WTMSpecialty — 2

26.8%-4.0pp

SKWDShort-tail/Monoline Specialty Lines — Year 1

21.1%-0.7pp

Other financials

Income statement

See full

Revenue$189.7M-11.1%

Net income$35.8M+20.7%

EPS (diluted)$1.05+22.1%

Balance sheet

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Cash & equivalents$610.2M-5.1%

Total debt$4.7M-92.1%

Total equity$741.2M+11.2%

Total assets$2.3B+5.4%

Cash flow

See full

Operating cash flow$37.2M+259%

Valuation

See full

Market cap$533.32M+7.2%

Enterprise value-$72.18M-15.4%

P/E6.6×—

P/S0.8×+0.1×

Profitability

See full

Net margin11.5%—

FCF margin-46.7%—

Returns & leverage

See full

Return on equity11.5%—

Debt / equity0×-0.1×

Where this comes from

Reported directly by Greenlight Capital RE, Ltd. in its filing.

Tagged under the XBRL concept us-gaap:ShortdurationInsuranceContractsHistoricalClaimsDurationYearOne.

The official record: Greenlight Capital RE, Ltd.’s 10-K, filed March 9, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Greenlight Capital RE, Ltd.'s specialty — year 1?: Greenlight Capital RE, Ltd. (GLRE) reported specialty — year 1 of 26.6% in Q4 2025.
What does specialty — year 1 mean?: This metric represents the specialty segment's underwriting performance or claims development during the first year of a policy cohort. It is used to analyze the initial loss emergence and profitability trends for the most recent underwriting period. Investors use this to gauge the immediate impact of current specialty underwriting decisions.