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INVESTMENT IN RELATED PARTY INVESTMENT FUND
 3 Months Ended
Mar. 31, 2026
Equity Method Investments and Joint Ventures [Abstract]  
INVESTMENT IN RELATED PARTY INVESTMENT FUND INVESTMENT IN RELATED PARTY INVESTMENT FUND
The Company’s maximum exposure to loss relating to Solasglas Investments, LP (“Solasglas”) is limited to GLRE's share of Partners’ capital in Solasglas. At March 31, 2026, GLRE’s share of Partners’ capital in Solasglas was $515.2 million (December 31, 2025: $504.6 million), representing 80.1% (December 31, 2025: 81.4%) of Solasglas’ total capital. DME Advisors II, LLC held the remaining 19.9% (December 31, 2025: 18.6%) of Solasglas’ total capital.

The Company’s share of Solasglas’ income from operations for the three months ended March 31, 2026 was $33.7
million (three months ended March 31, 2025: $32.2 million), as shown in the caption “Income from investment in related party investment fund” in the Company’s condensed consolidated statements of operations.

The summarized financial statements of Solasglas are presented below.

Summarized Statements of Financial Condition of Solasglas Investments, LP
March 31, 2026December 31, 2025
Assets
Investments, at fair value$599,730 $600,837 
Derivative contracts, at fair value17,619 22,384 
Due from brokers350,783 281,505 
Interest and dividends receivable465 1,463 
Total assets968,597 906,189 
Liabilities
Investments sold short, at fair value(310,838)(275,794)
Derivative contracts, at fair value(12,545)(6,670)
Capital withdrawals payable(250)(1,010)
Interest and dividends payable(1,876)(2,528)
Accrued expenses and other liabilities(228)(178)
Total liabilities(325,737)(286,180)
Partners' capital$642,860 $620,009 
GLRE’s share of Partners' capital$515,244 $504,555 
Summarized Statements of Operations of Solasglas Investments, LP
Three months ended March 31
20262025
Investment income
Dividend income (net of withholding taxes)$1,519 $1,490 
Interest income3,362 3,627 
Total Investment income4,881 5,117 
Expenses
Management fee(1,866)(1,730)
Interest(551)(1,701)
Dividends(1,401)(761)
Research and operating(504)(485)
Total expenses(4,322)(4,677)
Net investment income559 440 
Realized and change in unrealized gains (losses)
Net realized gain61,966 19,105 
Net change in unrealized appreciation (depreciation)(16,423)27,018 
Net gain on investment transactions45,543 46,123 
Net increase in Partners' capital (1)
$46,102 $46,563 
GLRE’s share of the increase in Partners' capital$33,689 $32,197 

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

Three months ended March 31
20262025
Management fees$1,866 $1,730 
Performance allocation3,743 3,578 
Total$5,609 $5,308