Cayman's Greenlight Capital Re Q4 premiums rise
Overview
Cayman Islands reinsurer's Q4 gross premiums rose 12% yr/yr
Net underwriting income for Q4 reached $13 mln, reversing prior year's loss
Company repurchased $2.8 mln of shares at $14.02 each
Outlook
Company did not provide specific guidance for future quarters or years
Result Drivers
UNDERWRITING IMPROVEMENT - Greenlight Re's Q4 combined ratio improved to 92.1% from 112.1%, driven by increased gross premiums and effective underwriting strategies
INVESTMENT INCOME - Total investment income surged to $44.8 mln in Q4, supported by gains in the Solasglas investment portfolio
Company press release: ID:nGNXpFPQk
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Gross Premiums Written |
| $161.3 mln |
|
Q4 Net Income |
| $49.3 mln |
|
Q4 Combined Ratio |
| 92.1% |
|
Analyst Coverage
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 9 three months ago
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
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