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

Screener

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

SKWDShort-tail/Monoline Specialty Lines — Year 2

38.1%+0.4pp

KMPRSpecialty Personal Automobile Insurance—Liability — Year 2

77%-0.8pp

KMPRSpecialty Personal Automobile Insurance—Physical Damage — Year 2

100%0.0pp

CNASurety — Year 2

36.2%-4.8pp

UFCSPersonal — Year 2

35.2%+2.2pp

HGTYAuto — Year 2

24.3%-0.8pp

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$501.04M+12.7%

Enterprise value-$104.46M-32.9%

P/E6.2×—

P/S0.7×+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 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 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.