GREENLIGHT CAPITAL RE, LTD. (NASDAQ:GLRE) Files An 8-K Regulation FD DisclosureItem 7.01 Regulation FD
a) Loss Development Tables
Attached hereto as Exhibit 99.1 are the loss development tables of Greenlight Capital Re, Ltd (the "Company") which provide additional detail on the Company's reserves for losses and loss adjustment expense as of December 31, 2017. The loss development tables presented in the attached have been disaggregated by lines of business for the years ended from December 31, 2008 to 2017. The Company had previously disclosed the incurred and paid claims development tables in its Form 10-K for the year ended December 31, 2017, whereby the tables were categorized as Frequency – Health; Frequency – Non-Health; and Severity. Effective from 2018, the Company no longer categorizes its business as frequency and severity but instead categorizes its business as Property, Casualty and Other.
For purposes of the loss development tables, the property business has been further disaggregated into "Property" and "Motor – Physical Damage". The casualty category has been disaggregated into "General Liability", "Motor Liability", "Professional Liability" and "Workers' Compensation". In addition, the incurred and paid claims relating to accident and health business have been presented separately as "Health". Other specialty business including financial, aviation, energy and marine which are individually insignificant to our overall business have been grouped together as "Other". Contracts that cover more than one line of business are grouped as "Multi-line" regardless of whether a portion of the underlying business is covered by one of the lines of business listed above.
b) Ratios Table
In addition to the loss development tables, the Company has presented its ratios table for the years ended December 31, 2017 and 2016 based on the new categories of Property, Casualty and Other.
The information contained herein, including Exhibit 99.1, is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. The furnishing of the information in this report is not intended to, and does not, constitute a determination or admission by the Registrant that the information is material or complete, or that investors should consider this information before making an investment decision with respect to any security of the Registrant or any of its affiliates.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
GREENLIGHT CAPITAL RE, LTD. ExhibitEX-99.1 2 lossdevelopmenttables.htm EXHIBIT 99.1 Exhibit a) Loss Development TablesThe following tables present the incurred and paid claims development as of December 31,…To view the full exhibit click here
About GREENLIGHT CAPITAL RE, LTD. (NASDAQ:GLRE)
Greenlight Capital Re, Ltd. is a property and casualty reinsurance holding company. The Company operates through property and casualty reinsurance segment. Its underwriting operations are classified into two categories: frequency business, which is characterized as contracts containing a number of small losses emanating from multiple events, and severity business, which is characterized as contracts with the potential for losses emanating from one event or multiple events. The Company’s property line of insurance provides protection for aviation, commercial, energy, motor physical damage and personal. It offers casualty insurance products for general, marine, motor and professional liabilities. The Company’s specialty insurance products are offered for financial, health and worker’s compensation. Its subsidiaries include Greenlight Reinsurance, Ltd, (Greenlight Re), Greenlight Reinsurance Ireland, Ltd. (GRIL) and Verdant Holding Company, Ltd. (Verdant).