What is Greenlight Capital RE, Ltd.'s specialty — year 4?

Greenlight Capital RE, Ltd. (GLRE) reported specialty — year 4 of 40.2% in Q4 2025.

What does specialty — year 4 mean?

This metric captures the specialty segment's underwriting performance or claims development during the fourth year of a policy cohort. It serves as a benchmark for evaluating the tail-risk and ultimate loss ratios of older specialty business. Investors monitor this to identify potential reserve strengthening or releases as specialty claims reach maturity.

Greenlight Capital RE, Ltd. GLRE Specialty — Year 4

Other product segments

Financial

36%+25.0%

Casualty

23.8%+0.8%

Multiline

8.8%+22.2%

Property

3.8%+8.6%

Health

0%—

Similar metrics at other companies

ACGLSpecialty — Year Four

6.7%+0.3pp

HMNSpecialty Health — Year Four

1.4%+0.6pp

SPNTOther Specialties — Year 4

6.1%+0.9pp

KMPRSpecialty Personal Automobile Insurance—Liability — Year 4

94.3%-0.8pp

WTMSpecialty — 4

8.7%+3.8pp

WTMSpecialty — Prior Year

-$6.8M-179%

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

See full

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:ShortdurationInsuranceContractsHistoricalClaimsDurationYearFour.

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 4?: Greenlight Capital RE, Ltd. (GLRE) reported specialty — year 4 of 40.2% in Q4 2025.
What does specialty — year 4 mean?: This metric captures the specialty segment's underwriting performance or claims development during the fourth year of a policy cohort. It serves as a benchmark for evaluating the tail-risk and ultimate loss ratios of older specialty business. Investors monitor this to identify potential reserve strengthening or releases as specialty claims reach maturity.