Reinsurance News
Greenlight Re
Greenlight Re returns to underwriting profitability
4th August 2021
Greenlight Capital Re has reported its Q2 2021 financial results, showing an underwriting income of $4.562 million compared to a loss of $1.306 million for the prior year period. Its combined ratio came in at 96.5%, an improvement from 101.2% last year. The higher underwriting income was due primarily to the ... Read the full article
Greenlight Re hires Heejae Cho as Head of Innovation Underwriting
15th June 2021
Specialist property and casualty reinsurer Greenlight Capital Re has appointed Heejae Cho as Head of Innovation Underwriting. Cho brings over 18 years of senior underwriting and actuarial experience to Greenlight Re, previously working at ACE, XL and Arch. She will be responsible for managing the underwriting activities within the growing Greenlight Re ... Read the full article
Greenlight Re posts income of $6.5m as investments offset underwriting loss
6th May 2021
Hedge fund-backed reinsurer Greenlight Re has recorded net income of $6.5 million for the first quarter of 2021 against a net loss of $40.3 million a year earlier, despite falling to an underwriting loss on the impacts of winter storm Uri in the U.S. in February. During Q1 2021, gross written ... Read the full article
Greenlight Re invests in sports risk MGU Player’s Health
21st April 2021
Greenlight Re Innovations (GRI), a division of specialist hedge fund-backed property and casualty reinsurer Greenlight Capital Re, has announced a new investment in Ao1 Holdings Inc. (Player’s Health). Player’s Health is a managing general underwriter (MGU) that provides insurance and risk management services to the amateur sports organization market. The firm utilizes ... Read the full article
Greenlight Re’s underwriting performance improves as Q4 income hits $42m
11th March 2021
Hedge fund-backed reinsurer Greenlight Re has reported net income of $42 million for the fourth-quarter of 2020 and income of $3.9 million for the year, as the company's underwriting performance improved year-on-year. Q4 2020 income of $42 million is a significant improvement on the $30.3 million net loss reported by the ... Read the full article
Greenlight Re targets London market growth with new UK entity
24th November 2020
Hedge fund-backed, specialist property and casualty reinsurance company, Greenlight Capital Re, Ltd., has launched a UK marketing entity, called Greenlight Re Marketing (UK) Limited. The company states that the launch is a reflection of its desire to increase its presence in the London market. Alongside the launch, Greenlight Re has announced the ... Read the full article
Greenlight Re turns Q3 profit but CR tips over 100%
5th November 2020
Hedge fund-backed reinsurer Greenlight Re has reported a positive net income of $2.2 million for the third quarter of 2020, but large natural catastrophe losses and pandemic exposure resulted in an underwriting loss. The income figure is smaller than the $5.1 million that Greenlight Re posted in Q3 2019, but the ... Read the full article
Greenlight Re announces key leadership changes
10th September 2020
Specialist property and casualty reinsurer Greenlight Capital Re has announced the appointment of Simon Burton to the role of Chief Underwriting Officer, which he will serve along his current responsibilities as Chief Executive Officer. Additionally, Neil Greenspan will serve as Chief Financial Officer while Faramarz Romer will take up the role of ... Read the full article
Greenlight Re sinks to modest loss in Q2
6th August 2020
Hedge fund-backed reinsurer Greenlight Re has reported a net loss of $0.1 million in the second quarter of 2020, compared to net income of $15.3 million in the second quarter of 2019. Gross written premiums in the second quarter of 2020 were $116.7 million, compared to $152.3 million in the second ... Read the full article
Greenlight Re confirms $40mn Q1 loss amid investment “turmoil”
6th May 2020
Hedge fund-backed reinsurer Greenlight Re has confirmed that it saw a net loss of $40.3 million in the first quarter of 2020, due to what CEO Simon Burton described as “unprecedented turmoil and uncertainty in global financial markets.” The result compares with net income of $5.9 million posted by Greenlight Re ... Read the full article
Greenlight Re sinks to $43mn Q1 net loss
14th April 2020
Hedge fund-backed reinsurer Greenlight Re expects to incur a net loss of between $38 million and $43 million for the first quarter of 2020. This loss is driven by an investment loss in the Solasglas Investments, LP fund of $42.2 million, representing a loss of 8.1% for the quarter as previously ... Read the full article
Greenlight Re concludes existing business plan is “the best course of action”
3rd April 2020
Investment-oriented reinsurer Greenlight Capital Re has announced that following its strategic review of transaction alternatives, it has decided that the best course of action is to continue its existing business plan. At this time, the Board, following a recommendation made by a special committee composed of independent directors, has determined the ... Read the full article
Greenlight Re’s strategic review ongoing amid underwriting challenges
11th March 2020
David Einhorn, the Chairman of investment-oriented reinsurer Greenlight Re, said during the company’s recent earnings call that its strategic review is ongoing after initial actions failed to have the desired impact. In the summer of 2019, ratings agency A.M. Best turned negative on Greenlight Re over concerns around its consistently ... Read the full article
Greenlight Re posts cat-driven $30.3mn Q4 net loss
10th March 2020
Hedge fund-backed reinsurer Greenlight Re has announced a fourth quarter net loss of $30.3 million, driven by a $14.2 million catastrophe loss related to typhoons Hagibis and Faxai. The loss represents an improvement from the $80.8 million hit in the prior year quarter. A net investment loss of $8.8 million compares to ... Read the full article
Greenlight Re significantly improves underwriting & investment performance
7th November 2019
Investment-oriented reinsurer Greenlight Re has reported net income of $5.1 million for the third-quarter of 2019, as the firm produced underwriting income and an investment gain for the second quarter in a row. It would appear that the previously announced strategic review and ongoing efforts to diversify its portfolio are having ... Read the full article
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