XML 79 R44.htm IDEA: XBRL DOCUMENT v3.20.1
SCHEDULE II CONDENSED FINANCIAL INFORMATION OF REGISTRANT (Tables)
 12 Months Ended
Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract]  
Schedule of Condensed Balance Sheet
GREENLIGHT CAPITAL RE, LTD.
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
CONDENSED BALANCE SHEETS — PARENT COMPANY ONLY
 
(expressed in thousands of U.S. dollars) 
 
 
December 31, 2019
 
December 31, 2018
 
 
($ in thousands)
Assets
 


 


Other investments
 
$
1,000

 
$
800

Cash and cash equivalents
 
2

 
3

Investment in subsidiaries
 
557,835

 
553,323

Notes receivable (net of valuation allowance)
 
10,469

 
21,965

Due from subsidiaries
 
8,200

 
—

Total assets
 
$
577,506

 
$
576,091

Liabilities and equity
 
 
 
 
Liabilities
 

 

Convertible senior notes payable
 
$
93,514

 
$
91,185

Other liabilities
 
1,611

 
—

Due to subsidiaries
 
5,198

 
7,619

Total liabilities
 
100,323

 
98,804

Shareholders’ equity
 

 

Share capital
 
3,699

 
3,638

Additional paid-in capital
 
503,547

 
499,726

Retained earnings (deficit)
 
(30,063
)
 
(26,077
)
Total shareholders’ equity
 
477,183

 
477,287

Total liabilities and equity
 
$
577,506

 
$
576,091
Schedule of Condensed Income Statement
GREENLIGHT CAPITAL RE, LTD.
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
CONDENSED STATEMENT OF OPERATIONS — PARENT COMPANY ONLY
 
(expressed in thousands of U.S. dollars)
 
 
 
Year ended December 31
 
 
2019
 
2018
 
2017
 
 
 ($ in thousands)
Revenue
 
 
 
 
 
 
Net investment income
 
$
522

 
$
1,574

 
$
34,487

Total revenues
 
522

 
1,574

 
34,487

Expenses
 
 

 
 

 
 

General and administrative expenses
 
6,496

 
4,445

 
4,691

Interest expense
 
6,263

 
2,505

 
—

Total expenses
 
12,759

 
6,950

 
4,691

Net income (loss) before equity in earnings of consolidated subsidiaries
 
(12,237
)
 
(5,376
)
 
29,796

Equity in earnings of consolidated subsidiaries
 
8,251

 
(344,678
)
 
(74,748
)
Consolidated net income (loss)
 
$
(3,986
)
 
$
(350,054
)
 
$
(44,952
)
Schedule of Condensed Cash Flow Statement
GREENLIGHT CAPITAL RE, LTD.
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
CONDENSED STATEMENTS OF CASH FLOWS — PARENT COMPANY ONLY
 
(expressed in thousands of U.S. dollars) 
 
 
  Year Ended December 31
 
 
2019
 
2018
 
2017
 
 
 ($ in thousands)
Cash provided by (used in) operating activities
 
 
 
 
 
 
Net income (loss)
 
(3,986
)
 
(350,054
)
 
(44,952
)
Adjustments to reconcile net income or loss to net cash provided by (used in) operating activities
 
 
 
 
 
 
Equity in earnings of consolidated subsidiaries
 
(8,251
)
 
344,678

 
74,748

Net change in unrealized gains and losses on investments
 
(200
)
 
—

 
—

Share-based compensation expense
 
3,686

 
4,382

 
4,691

Amortization and interest expense
 
2,329

 
2,505

 
—

Net change in
 
 
 
 
 
 
Due from subsidiaries
 
(8,200
)
 
876

 
(876
)
Other liabilities
 
1,611

 
—

 
—

Due from subsidiaries
 
(2,421
)
 
7,619

 
(29,023
)
Net cash provided by (used in) operating activities
 
(15,432
)
 
10,006

 
4,588

Investing activities
 
 
 
 
 
 
Purchase of investments
 
—

 
(800
)
 
—

Change in note receivable
 
11,496

 
(6,610
)
 
(191
)
Contributed surplus to subsidiaries, net
 
3,935

 
(82,750
)
 
(1,500
)
Net cash provided by (used in) investing activities
 
15,431

 
(90,160
)
 
(1,691
)
Financing activities
 
 
 
 
 
 
Net proceeds from issuance of convertible senior notes payable, net of costs
 
—

 
96,576

 
—

Repurchase of Class A ordinary shares
 
—

 
(16,503
)
 
(2,819
)
Net cash provided by (used in) financing activities
 
—

 
80,073

 
(2,819
)
Net increase (decrease) in cash and cash equivalents
 
(1
)
 
(81
)
 
78

Cash and cash equivalents at beginning of the year
 
3

 
84

 
6

Cash and cash equivalents at end of the year
 
2

 
3

 
84

Supplementary information
 
 
 
 
 
 
Non cash consideration from (to) subsidiaries, net
 
(196
)
 
(242
)
 
(162
)