Reinsurance News
Greenlight Re
Greenlight Re reports record underwriting income in 2025
10th March 2026
Cayman Islands-based reinsurer Greenlight Capital Re has posted a net income of $74.8m for 2025, up from $42.8m in 2024, while gross premiums written increased 11% to $773.3m. Greenlight Re's net premiums earned also rose 7% to $661.1m in 2025, while net underwriting income expanded to $35.7m, compared with an underwriting ... Read the full article
AM Best upgrades credit ratings of Greenlight Capital Re and subsidiaries
13th November 2025
AM Best has upgraded the Financial Strength Ratings of Greenlight Reinsurance, Ltd. (Cayman Islands) and Greenlight Reinsurance Ireland, DAC (Ireland) to A (Excellent) from A– (Excellent) and the Long-Term Issuer Credit Ratings to “a” (Excellent) from “a–” (Excellent). Both companies are wholly owned subsidiaries of Greenlight Capital Re, Ltd. (Greenlight Re). ... Read the full article
Greenlight Re posts record-low CoR in Q3’25, though investment portfolio falters
4th November 2025
Greenlight Capital Re has reported Q3 2025 net underwriting income of $22.3 million, up sharply from $6.1 million a year earlier, as the combined ratio improved to a record low of 86.6%. Meanwhile, the firm's gross premiums written in Q3 2025 rose 9.5% to $184.4 million, and net premiums earned increased ... Read the full article
Greenlight Re reports improved Q2’25 underwriting result despite investment setback
5th August 2025
Greenlight Re reported net income of $0.3 million for Q2 2025, a sharp decline from $8.0 million in Q2 2024, primarily due to a $7.8 million investment loss this quarter versus $15.3 million in investment income a year earlier. David Einhorn, Chairman of the Board of Directors, commented on this, “The ... Read the full article
Greenlight Re’s Q1’25 net income rises despite catastrophes driving underwriting loss
8th May 2025
Reinsurer Greenlight Re's net income increased to $29.6 million in the first quarter of 2025, as a stronger investment result more than offset a $7.8 million underwriting loss amid elevated losses from catastrophes. Greenlight Re’s underwriting performance weakened compared to the prior year, swinging from a $3.4 million underwriting profit in ... Read the full article
Martin Vezina to lead Greenlight Re’s Underwriting Analytics team
2nd May 2025
Greenlight Re, a subsidiary of Greenlight Capital Re, Ltd., has announced the appointment of Martin Vezina as Head of Underwriting Analytics with immediate effect. Based in the company’s Grand Cayman headquarters, Vezina will play an important role in overseeing Greenlight Re’s underwriting analytics and pricing function The executive brings to his new ... Read the full article
Vivere to fund strategic expansion with new $7.5m investment
3rd April 2025
Specialty insurance platform Vivere Partners has secured $7.5 million in Series A funding, led by General Catalyst, Pathlight Ventures and Greenlight Re, to drive strategic expansion. The funding will also be used to recruit top underwriting talent and develop advanced technology infrastructure. Founded by insurance and engineering experts, and led by Chris ... Read the full article
Greenlight Re reports rise in GPW for Q4’24 as reserve strengthening & cats drive underwriting loss
11th March 2025
Cayman Islands-domiciled reinsurer Greenlight Capital Re, Ltd. has reported a 28% increase in gross premiums written (GPW) for the fourth quarter of 2024 to $143.8 million, as the firm fell to an underwriting loss in the quarter due to the strengthening of reserves related to aviation losses from Russia's invasion ... Read the full article
Catastrophes dent Greenlight Re’s underwriting result but net income rises on investments
5th November 2024
Cayman Islands domiciled reinsurer Greenlight Capital Re, Ltd. has reported a higher combined ratio of 95.9% for the third quarter of 2024 compared to last year’s 91.2% on the back of elevated losses from catastrophes, although net income increased 161% year-on-year as total net investment income rose. Greenlight Re's loss ratio ... Read the full article
AM Best revises Greenlight Capital Re outlook to positive
18th October 2024
Global ratings agency AM Best has revised the outlooks for Greenlight Capital Re (GLRE), Ltd. and its subsidiaries from stable to positive, while affirming GLRE’s Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb-.” The outlooks for both Greenlight Reinsurance, Ltd. and Greenlight Reinsurance Ireland, Designated Activity Company, were revised from stable ... Read the full article
MIC Global to become Lloyd’s coverholder for Greenlight Re’s Syndicate 3456
11th October 2024
MIC Global (MIC) intends to become a Lloyd’s coverholder of Greenlight Re’s Syndicate 3456 (S3456), subject to applicable approvals, a strategic move that marks a strengthening of the partnership between both companies. MIC is focused on embedding micro insurance solutions for platform businesses, while S3456 is specialised in delivering market-leading insurance ... Read the full article
The Cayman Islands is an advantageous environment for tech-driven (re)insurance start-ups: Greenlight Re
7th October 2024
In a recent interview with Reinsurance News, Greg Richardson, Chief Executive Officer of Greenlight Re, stated that the Cayman Islands is an "advantageous environment," particularly for tech-driven (re)insurance start-ups. "Speaking from a P&C standpoint, Greenlight Re has a meaningful presence in Cayman as a P&C reinsurer. On a global scale, though, ... Read the full article
Greenlight Re’s Q2’24 underwriting profit declines on US SCS losses
7th August 2024
Greenlight Capital Re, Ltd. has reported a dip in its combined ratio to 99.8% for the second quarter of 2024 compared to 96.2% a year earlier, as underwriting income decreased by $5.1 million year-on-year amid elevated losses from severe convective storms (SCS) in the US. The Cayman Islands domiciled reinsurer notes ... Read the full article
Greenlight Re reports stronger Q1’24 CoR as underwriting income rises
9th May 2024
Greenlight Capital Re, Ltd. has reported a 98% combined ratio for Q1 2024 compared to 99.8% in Q1 2023, as the firm's underwriting income increased to $3.4 million from $0.4 million. The current-year catastrophe losses, including the Baltimore bridge incident, added 7.7% to the firm's combined ratio during the first quarter ... Read the full article
Greenlight Re pleased with 1/1 renewals, optimistic on Lloyd’s in 2024: Patrick O’Brien
8th March 2024
During Greenlight Re's 2023 earnings call, Patrick O'Brien, Chief Executive Officer (CEO), Director, Greenlight Re Ireland, noted the still very attractive conditions at the January 1st, 2024, reinsurance renewals, when over 60% of the company's business incepts. "We are very pleased with how January 1, 2024, progressed. Market conditions remain very ... Read the full article
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