Reinsurance News
Greenlight Re
Greenlight Re to invest in short-term rental insurer Safely
20th October 2022
Greenlight Re Innovations (GRI), part of Greenlight Capital Re, has announced an investment in Safely, a provider of short-term rental protection. The short-term home rental market has grown rapidly as seen with the rise of booking platforms like Airbnb and Vrbo. With this, concerns have grown among homeowners about the possibility ... Read the full article
Greenlight Re makes underwriting leadership promotions
6th October 2022
Greenlight Capital Re, Ltd. has made several promotions within its underwriting leadership teams. Firstly, Regan Cairns has been promoted to Chief Underwriting Officer of Greenlight Re, where he will be focusing on Financial Risks, North American Casualty, and Property classes. Secondly, Finbar (Barry) Griffin has been promoted to Chief Underwriting Officer of ... Read the full article
Greenlight Re reports strong rise in net income in Q2 results
3rd August 2022
Hedge fund-backed reinsurer Greenlight Re has reported a net income of $14.8 million for the first quarter of 2022, a huge increase compared to net income of $0.6 million from the second quarter of 2021. Gross premiums written (GPW) in the quarter were $134.8 million, a 4.8% decrease compared to $141.6 million ... Read the full article
Greenlight Re Innovations invests in security deposit replacement insurance start-up
1st June 2022
Greenlight Re Innovations, part of Greenlight Capital Re, Ltd. has announced an investment in the security deposit replacement insurance managing general agent (MGA) start-up, Garentii. With security deposits having long been the standard form of landlords’ security against property damage and unpaid rent, they do however represent an inefficient use of ... Read the full article
Greenlight Re takes Q1 loss on Russia exposures
4th May 2022
Hedge fund-backed reinsurer Greenlight Re has reported a net loss for the first quarter of 2022, as its investment income was offset by an underwriting loss driven by exposure to the conflict between Russia and Ukraine. The company booked a net loss of $5.7 million last quarter, compared to net income ... Read the full article
Greenlight Re’s Syndicate 3456 at Lloyd’s commences underwriting
20th April 2022
The previously announced Greenlight Innovation Syndicate 3456 at Lloyd's, Greenlight Re's new insurtech-focused syndicate, received approval to commence underwriting from April 1st, 2022. The new syndicate was launched under the syndicate in a box model at the specialist Lloyd's insurance and reinsurance marketplace. It's been launched by its parent to provide ... Read the full article
Greenlight Re Innovations invests in tax audit insurtech
25th March 2022
Greenlight Re Innovations (GRI), part of Greenlight Capital Re, has announced an investment in AuditCover Australia Pty Limited, a tax audit insurtech. AuditCover is structured as a tech-centric, end-to-end digital audit insurance platform that connects directly to accountants' core systems. Its aim is to streamline the quote and bind process and provide ... Read the full article
Greenlight Re improves income, sees better investing conditions
9th March 2022
Hedge fund-backed reinsurer Greenlight Re has reported improved income over 2021, despite incurring a dip in the fourth quarter of the year, and is now seeing investment conditions better aligned with its strategy, the company says. Greenlight Re recorded net income of $24.3 million and $17.6 million for the Q4 and ... Read the full article
Greenlight Re Innovations invests into Redkik
10th February 2022
Greenlight Re Innovations has invested an undisclosed amount into cargo insurance administration and analytics platform Redkik. The investment, said Greenlight Re in a statement, is in an API-embedded solution designed for cargo owners who cannot accurately predict the frequency and value of future shipments, eliminating pricing inefficiencies. Simon Burton, CEO of Greenlight ... Read the full article
Greenlight Re to establish Lloyd’s Syndicate 3456
31st January 2022
Greenlight Re Innovations (GRI) has received ‘in-principle’ approval from Lloyd’s to establish an insurtech-focused syndicate. Syndicate 3456 will be established under the Syndicate-in-a-Box (SIAB) model and is slated to commence operations in Q2 2022. Greenlight Re said in a statement that it would provide capacity to its growing portfolio of insurtechs. ... Read the full article
Greenlight Re Innovations backs title insurtech Blueprint
12th November 2021
Greenlight Re Innovations, part of Greenlight Capital Re, has invested in Blueprint, a full-stack title insurer focused on the digitalisation and integration of new technologies into the industry. More specifically, Blueprint reduces the historically-outsized expense ratios associated with title insurance by centralising underwriting and agency operations under a full-stack carrier. The company ... Read the full article
Greenlight Re ‘middle-of-the-road’ on cat risk, ‘sceptical’ ahead of 1/1: CEO Burton
8th November 2021
After disappointing property catastrophe rate increases at the January 1st, 2021 reinsurance renewals, Simon Burton, Chief Executive Officer (CEO) of Greenlight Re, is sceptical ahead of year-end, but feels comfortable with the firm's current catastrophe exposure. Catastrophe losses of almost $26 million contributed 19.1 points to Greenlight Re's 109.3% combined ratio ... Read the full article
Greenlight Re falls to nat cat-driven $14mn Q3 net loss
4th November 2021
Hedge fund-backed reinsurer Greenlight Re has announced a net loss for the third quarter of 2021 of $13.9 million, compared to a $2.2 million income in the prior year quarter. An underwriting loss of $12.6 million was driven by costs of $25.9 million associated with Hurricane Ida, the European floods and ... Read the full article
Greenlight Capital Re promotes Brian O’Reilly to Head of Innovations
4th October 2021
Specialist property and casualty reinsurer Greenlight Capital Re has appointed Brian O’Reilly as Head of Innovations. O’Reilly joined Greenlight Re in 2013 and has held a variety of roles within the actuarial and underwriting teams. In 2018, he was part of the founding team of Greenlight Re Innovations. Simon Burton, Chief Executive Officer at ... Read the full article
Greenlight Re expands Board with three new additions
4th August 2021
Hedge fund-backed reinsurer Greenlight Capital Re has expanded its board of directors to nine members with the addition of Johnny Ferrari, Ursuline Foley and Victoria Guest. Ferrari is currently a consultant to companies in the financial services industry, having retired from KPMG International in June 2021. Prior to his retirement, Ferrari specialized ... Read the full article
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