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DEBT AND CREDIT FACILITIES
 9 Months Ended
Sep. 30, 2026
Debt Disclosure [Abstract]  
DEBT AND CREDIT FACILITIES DEBT AND CREDIT FACILITIES
Debt Obligations

The following table summarizes the Company’s outstanding debt obligations.
September 30, 2026December 31, 2025
Revolving credit facility$5,000 $5,000 
Less: deferred financing costs(232)(276)
Total debt$4,768 $4,724 

Credit Facilities

At September 30, 2026, the Company had letters of credit (“LC”) facilities with the following financial institutions:
CapacityLCs issued
For reinsurance contracts:
HSBC$100,000 $18 
Citibank275,000 142,975 
CIBC300,000 191,752 
Total LCs in favor of cedants$675,000 $334,745 
For Lloyds' syndicates capacity:
Citibank FAL£60,000 £58,000 
Except for the above Citibank FAL facility, the LC facilities are cash collateralized (see Note 6). The LC facilities are subject to various customary covenants. At September 30, 2026, the Company was in compliance with all LC facilities’ covenants.

The following were material changes to the respective LC agreements during 2026.

CIBC LC Facilities

On April 1, 2026, the Company entered into the following transactions through its subsidiaries: (i) Greenlight Reinsurance, Ltd. (“Greenlight Re”) amended and restated its Master LC Agreement with CIBC, and ii) Greenlight Reinsurance Ireland, Designated Activity Company (“GRIL”) entered into a Master LC Agreement with CIBC (collectively, the “Master LC Agreements”, and the facilities thereunder, the “CIBC LC Facilities” and each a “CIBC LC Facility”). The Master LC Agreements increase the aggregate LC commitment by CIBC from $200 million to $300 million, thereby providing additional LC capacity for the Company’s operating subsidiaries, Greenlight Re and GRIL. Initially, $250 million has been allocated to Greenlight Re and $50 million to GRIL; however, this allocation may be changed by written agreement between the parties. The CIBC LC Facilities will mature on December 22, 2027, subject to automatic annual extensions unless prior written notice is provided by either party.

Each CIBC LC Facility is secured by a first-priority lien on a separate cash collateral account held with CIBC, with a minimum cash balance equal to the face amount of the LCs issued and outstanding under such CIBC LC Facility.

Citibank FAL Facility

On April 29, 2026, the Citibank FAL facility increased from £50 million to £60 million.