What is Greenlight Capital RE, Ltd.'s specialty — year 2?

Greenlight Capital RE, Ltd. (GLRE) reported specialty — year 2 of 45% in Q4 2025.

What does specialty — year 2 mean?

This metric tracks the specialty segment's underwriting performance or claims development during the second year following the initial policy cohort. It helps in assessing the maturation of specialty claims and the accuracy of initial loss estimates. Consistent performance across years indicates stable underwriting discipline in the specialty segment.

Greenlight Capital RE, Ltd. GLRE Specialty — Year 2

Other product segments

Health

83%+0.2%

Multiline

73%-1.9%

Financial

51.6%-23.2%

Casualty

34%+0.6%

Property

33.5%+0.9%

Similar metrics at other companies

ACGLSpecialty — Year Two

28.2%-1.0pp

HMNSpecialty Health — Year Two

35.1%+6.6pp

SPNTOther Specialties — Year 2

44.2%-0.3pp

WTMSpecialty — 2

26.8%-4.0pp

SPNTOther Specialties — Year 1

43.9%+2.6pp

SKWDShort-tail/Monoline Specialty Lines — Year 2

38.1%+0.4pp

Other financials

Income statement

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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

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Market cap$533.32M+7.2%

Enterprise value-$72.18M-15.4%

P/E6.6×—

P/S0.8×+0.1×

Profitability

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Net margin11.5%—

FCF margin-46.7%—

Returns & leverage

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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:ShortdurationInsuranceContractsHistoricalClaimsDurationYearTwo.

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 2?: Greenlight Capital RE, Ltd. (GLRE) reported specialty — year 2 of 45% in Q4 2025.
What does specialty — year 2 mean?: This metric tracks the specialty segment's underwriting performance or claims development during the second year following the initial policy cohort. It helps in assessing the maturation of specialty claims and the accuracy of initial loss estimates. Consistent performance across years indicates stable underwriting discipline in the specialty segment.