INVESTMENT IN RELATED PARTY INVESTMENT FUND (Tables)

9 Months Ended

Sep. 30, 2024

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Financial Information of Investment

The summarized financial statements of Solasglas are presented below.

Summarized Statements of Financial Condition of Solasglas Investments, LP

	September 30, 2024		December 31, 2023
Assets
Investments, at fair value	$	549,163	$	453,358
Derivative contracts, at fair value	11,844		11,167
Due from brokers	210,446		121,754
Cash and cash equivalents	21,782		—
Interest and dividends receivable	438		1,143
Total assets	793,673		587,422
Liabilities and partners’ capital
Liabilities
Investments sold short, at fair value	(263,540)		(197,571)
Derivative contracts, at fair value	(12,101)		(12,917)
Capital withdrawals payable	(1,250)		(1,000)
Due to brokers	—		(17,398)
Interest and dividends payable	(1,409)		(2,315)
Accrued expenses and other liabilities	(204)		(247)
Total liabilities	(278,504)		(231,448)
Partners' capital	$	515,170	$	355,974
GLRE’s share of Partners' capital	$	397,888	$	258,890

Summarized Statements of Operations of Solasglas Investments, LP

	Three months ended September 30				Nine months ended September 30
	2024		2023		2024		2023
Investment income
Dividend income (net of withholding taxes)	$	752	$	273	$	2,524	$	1,624
Interest income	3,540		2,523		10,040		6,415
Total Investment income	4,292		2,796		12,564		8,039
Expenses
Management fee	(1,613)		(1,238)		(4,344)		(3,469)
Interest	(817)		(2,380)		(2,887)		(5,387)
Dividends	(782)		(659)		(2,217)		(1,871)
Professional fees and other	(262)		(507)		(921)		(1,396)
Total expenses	(3,474)		(4,784)		(10,369)		(12,123)
Net investment income (loss)	818		(1,988)		2,195		(4,084)
Realized and change in unrealized gains (losses)
Net realized gain (loss)	23,647		460		86,677		(2,145)
Net change in unrealized appreciation (depreciation)	4,801		(1,191)		(24,582)		52,601
Net gain (loss) on investment transactions	28,448		(731)		62,095		50,456
Net increase (decrease) in Partners' capital (1)	$	29,265	$	(2,719)	$	64,289	$	46,372
GLRE’s share of the increase (decrease) in Partners' capital	$	19,844	$	(1,853)	$	42,422	$	27,791

(1) The net increase in Partners’ capital is net of management fees and performance allocation presented below:

	Three months ended September 30				Nine months ended September 30
	2024		2023		2024		2023
Management fees	$	1,613	$	1,238	$	4,344	$	3,469
Performance allocation	2,205		$	(206)	4,714		3,088
Total	$	3,818	$	1,032	$	9,058	$	6,557