AM Best Comments on Credit Ratings of Greenlight Capital Re, Ltd. and Subsidiaries Following Announced Departure of CEO Simon Burton
- Greg Richardson's appointment as CEO brings stability to GLRE following Simon Burton's departure.
- The stable outlook for GLRE's Credit Ratings indicates confidence in the company's financial strength.
- Continued advisory role for Simon Burton ensures a smooth transition for GLRE.
- None.
Effective Jan. 1, 2024, succeeding Mr. Burton will be Greg Richardson, who served as chief risk and strategy officer at Transatlantic Holdings, Inc. from 2014 to 2023. Mr. Burton will continue to serve in an advisory role and provide transitional services to GLRE through April 2024.
The Financial Strength Ratings of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” (Excellent), both with stable outlooks, remain unchanged for Greenlight Reinsurance Ireland, Designated Activity Company (
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
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Christopher Pennings, CPCU
Financial Analyst
+1 908 882 2237
christopher.pennings@ambest.com
Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com
Steven Chirico, CPA
Director
+1 908 882 1694
steven.chirico@ambest.com
Al Slavin
Senior Public Relations Specialist
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al.slavin@ambest.com
Source: AM Best
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