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

Screener

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

KMPRSpecialty Personal Automobile Insurance—Liability — Year 1

37.2%-0.8pp

SKWDShort-tail/Monoline Specialty Lines — Year 1

21.1%-0.7pp

KMPRSpecialty Personal Automobile Insurance—Physical Damage — Year 1

94.7%+1.7pp

CNASurety — Year 1

15.2%-2.1pp

UFCSPersonal — Year 1

51.3%-3.8pp

HGTYAuto — Year 1

62%+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

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Operating cash flow$37.2M+259%

Valuation

See full

Market cap$501.04M+12.7%

Enterprise value-$104.46M-32.9%

P/E6.2×—

P/S0.7×+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 source filing: Greenlight Capital RE, Ltd.’s 10-K, filed March 9, 2026.

Filed: Mar 9, 2026, 4:40 PM EDT
Fiscal year: FY2025
Accession: 0001385613-26-000010

Year 1	Year 2	Year 3	Year 4	Year 5	Year 6	Year 7	Year 8	Year 9	Year 10
11.6%	17.0%	14.9%	11.9%	11.1%	12.3%	7.0%	4.4%	3.7%	6.1%

Item 15. Exhibit Index

FAQ

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.