Reinsurance News
Greenlight Re
Greenlight Re names Faramarz Romer CFO
7th March 2023
Greenlight Re has announced that Faramarz Romer, the firm's current Chief Accounting Officer and Treasurer, will be appointed Chief Financial Officer, effective as of April 1, 2023, succeeding Neil Greenspan, who is leaving the company on March 31, 2023. Romer has served as Chief Accounting Officer and Treasurer of Greenlight Re ... Read the full article
Greenlight Capital Re invests in embedded insurance platform, Vertical Insure
9th February 2023
Greenlight Capital Re, Ltd., through its Greenlight Re Innovations, has announced an investment in Vertical Insure, Inc., a Minneapolis-based embedded insurance platform. The firm addresses distribution inefficiencies by embedding insurance in vertical Software as a Service (SaaS) platforms, targeting the SaaS platforms' business clients and the underlying customers of those businesses. The firm ... Read the full article
Greenlight Re reports Q3 net loss as nat cats hamper underwriting operations
3rd November 2022
Greenlight Re has announced a net loss of $18.5 million for the third quarter of 2022, stating that Hurricane Ian loss, while manageable, overshadowed the significant progress the company has made in its underwriting operations. This has widened somewhat compared to a net loss of $13.9 million in Q3 of 2021. ... Read the full article
CCO Laura Accurso to leave Greenlight Capital Re
26th October 2022
Greenlight Capital Re and Greenlight Reinsurance have announced that Laura Accurso, General Counsel, Corporate Secretary, and Chief Compliance Officer will separate from the firm - where she has worked for over 11 years - effective as of December 31, 2022 and in accordance with the separation agreement agreed between both ... Read the full article
Greenlight Re announces investment in cargo insurance platform, Otonomi
25th October 2022
Greenlight Re Innovations, part of Greenlight Capital Re, has announced an investment in Otonomi, Inc. – a New York-based parametric cargo insurance platform. Over the past few years, Greenlight Re notes that both globalization and technological advancements have led to a significant increase in global trade, increasingly exposing supply chain vulnerabilities. In ... Read the full article
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
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