to underwriting to develop long-term reinsurance relationships that deliver superior value to our partners in the best mutually beneficial market opportunities.
to support our partners in managing their business profitably.
DIFFERENTIATED INVESTMENT APPROACH
to maximize book value per share.
our underwriting and investment portfolios on ideas in which we have the highest conviction.
Greenlight Re strives to be the most responsive, client-focused reinsurer. We make our clients’ success our business.
Both our clients and brokers are our partners. Transparency, open communication and trust are paramount to achieving the best possible mutual outcome and maintaining strong, long-term partnerships. Our goals are best achieved through the long-term success of our partners.
We treat our partners in a manner in which we want to be treated and are respectful of their views and objectives. We are collaborative and transparent, communicating openly and honestly with the highest levels of integrity. We work to resolve issues in an equitable way for all partners.
DRIVE LONG-TERM BOOK VALUE GROWTH
through profitable underwriting and investing operations.
ALIGN THE INTERESTS
between all partners in a transaction and our shareholders.
BE TRANSPARENT AND RESPONSIVE
through a flat organizational structure with a small team of highly skilled underwriters that gives our partners access to decision makers.
EARN AN ECONOMIC PROFIT
on every reinsurance contract and every investment in all market conditions.
A COLLABORATIVE WORKING STYLE
that will result in win-win solutions with our partners.
COMMITTED TO OUR EMPLOYEES
by providing training opportunities as well as a challenging and rewarding work environment.
COMMITTED TO OUR COMMUNITY
through supporting charitable organizations and encouraging community involvement.
Interim Chief Executive Officer
Cayman Islands Focus
Greenlight Reinsurance, Ltd. is based in the Cayman Islands and pursues reinsurance opportunities globally, with a focus on North America. Consistent with our customer centric strategy, we look to develop long term relationships through an approach that will best add value to our brokers and clients.
We are, for the most part, business line and structure neutral, though our risk allocation will vary based on the perception of the opportunities available. In segments where we have the strongest conviction, we prefer larger transactions in which we lead or take majority share. For other segments, we look to partner with carriers who are view as best-in-class for their specific lines, usually starting with a small share with an eye to growing the relationship over time.
The segments we are currently finding the most attractive in North America include pro-rata and low attachment excess transactions in medium to longer-tail lines. The lines we recently have been most successful include:
- Private Passenger Auto
- Homeowner Quota-Share
- Accident & Health,
- Excess Casualty
- Professional Liability
- Niche Programs
- Direct Investment
Greenlight Reinsurance Ireland, Dedicated Activity Company. is based in Dublin and is focused on reinsurance opportunities in the London and Continental Europe markets. We are, for the most part, business line and structure neutral, though our risk allocation will vary based on the perception of the opportunities available. We look to partner with the larger, well-established syndicates and carriers who are viewed as best-in-class for specific lines.
The segments as we are currently finding the most attractive in the London and European market include pro-rata and low attachment excess transactions in medium to longer-tail lines. The lines and product structures we currently have the most interest include:
- Property Cat Retro
- Multi-Line Aggregate Pillar
- Risk Excess Covers
- Third Party Capital
- Solvency II Capital Relief Products
Income StatementUSD Millions 12 months
Gross Written Premium
Net Written Premium
Net Earned Premium
Net Income (Loss)
Key Ratios12 months
Premiums to Surplus
Reserves to Surplus
Net Invested Assets to Surplus
Dec 31st 2015
Dec 31st 2016
Payable in less than 1 year
Payable in 1 to 3 years
Payable in 3 to 5 years
Payable after 5 years
Natural Catastrophe Aggregate Limits
Dec 31st 2016
Single Event Loss
Maximum Loss ($ in thousands)
Maximum Loss as % of surplus
Collateral/Letters of Credit
Dec 31st 2016
Butterfield Bank (Cayman) Limited
Citibank Europe plc
JP Morgan Chase Bank N.A.
Issued letters of credit
CAPITAL AND SURPLUS
Greenlight Re had US$ 874 million in surplus as of Dec 31, 2016
(us $ in millions)
CURRENT PORTFOLIO AS OF Dec 31 st 2016
ASSET MANAGEMENT STRATEGY
Our investment portfolio is managed by DME Advisors,LP("DAE") a value-oriented investment advisor that analyzes companies’ available financial data in an effort to identify undervalued and overvalued securities. DME aims to protect capital while finding investment opportunities that generate positive returns. We provide our historical investment returns on our website, (www.greenlightre.com) where we also post our monthly investment returns, our largest disclosed long positions and our long short exposures as of the end of each month.
|INVESTMENT RETURN PER YEAR|
|2004 -||5.2%||2010 -||11.0%|
|2005 -||14.2%||2011 -||2.1%|
|2006 -||24.4%||2012 -||7.1%|
|2007 -||5.9%||2013 -||19.6%|
|2008 -||(17.6%)||2014 -||8.7%|
|2009 -||32.1%||2015 -||(20.2%)|
Greenlight Re to release first quarter 2017 results
20 Apr 2017
Greenlight Reinsurance Ireland DAC Hires Sean Rocks as Consultant
03 Apr 2017
Greenlight Reinsurance Ireland DAC Appoints CEO
16 Mar 2017
Greenlight Capital Re, Ltd. fourth quarter and full year 2016 earnings call (audio file)
23 Feb 2017
Listen to Audio
Greenlight Capital Re, Ltd. releases fourth quarter 2016 results
22 Feb 2017
Greenlight Capital Re, Ltd. to release fourth quarter and year end 2016 results
09 Feb 2017
Greenlight Capital Re, Ltd. announces Executive Leadership Change
19 Dec 2016
Greenlight Re releases third quarter results
03 Nov 2016
Greenlight Re to release third quarter results
24 Oct 2016
Greenlight Re Ireland joins forces with Kattan Associates
08 Sep 2016
Greenlight Capital Re, Ltd. second quarter 2016 earnings call (audio file)
02 Aug 2016
Listen to Audio
Greenlight Capital Re, Ltd. releases second quarter 2016 results
01 Aug 2016
Greenlight Capital Re, Ltd. to release second quarter 2016 results
20 Jul 2016
Greenlight Capital Re, Ltd. Investor Meeting Presentation
12 May 2016
Greenlight Re 2016 Investor Meeting Audio
12 May 2016
Listen to Audio
Greenlight Capital Re, Ltd. releases first quarter 2016 results
02 May 2016
Greenlight Capital Re, Ltd. to release first quarter 2016 results
19 Apr 2016
Greenlight Capital Re, Ltd. releases fourth quarter 2015 results
22 Feb 2016
Greenlight Capital Re, Ltd. to release fourth quarter 2015 results
09 Feb 2016
Greenlight Re Adds Claims Management Expertise
16 Jan 2016
Greenlight Re has strengthened its Grand Cayman team with the hiring of Troy Galley as the head of claims. Mr. Galley is a veteran in the insurance industry with over 25 years of experience in multiple lines of business. Mr. Galley joins Greenlight Re from Great American Insurance Group where he worked for the past 28 years in various roles, including most recently as the Divisional Vice President of Great American’s Claim Resolution Services.
Greenlight Capital Re, Ltd. provides comparison of underwriting results by accounting and underwriting year
29 Oct 2015
Greenlight Capital Re, Ltd. releases third quarter 2015 results
23 Oct 2015
Greenlight Capital Re, Ltd. to release third quarter 2015 results
14 Oct 2015
Greenlight Capital Re, Ltd. releases second quarter 2015 results
03 Aug 2015
Greenlight Capital Re, Ltd. to release second quarter 2015 results
24 Jul 2015
Greenlight Capital Re, Ltd. releases first quarter 2015 results
29 Apr 2015
Greenlight Capital Re, Ltd. to release first quarter 2015 results
27 Apr 2015
Greenlight Capital Re, Ltd. releases fourth quarter 2014 results
17 Feb 2015
Greenlight Capital Re, Ltd. to release fourth quarter 2014 results
10 Feb 2015
Greenlight Capital Re, Ltd. third quarter 2014 earnings call (audio file)
04 Nov 2014
Listen to audio
Greenlight Capital Re, Ltd. releases third quarter 2014 results.
03 Nov 2014
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Greenlight Capital Re, Ltd. announces ratings upgrade for Irish subsidiary Greenlight Reinsurance Ireland, Ltd.
30 Oct 2014
Link to PDF