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Greenlight Captial RE, LTD. - GLRE STOCK NEWS

Welcome to our dedicated page for Greenlight Captial RE, LTD. news (Ticker: GLRE), a resource for investors and traders seeking the latest updates and insights on Greenlight Captial RE, LTD. stock.

Greenlight Capital Re, Ltd. (GLRE) is a leading provider of property and casualty reinsurance, headquartered in Dublin, Ireland. The company operates through a single segment, focusing on the assumption of risk from property and casualty insurers in exchange for premiums. This strategic approach allows primary insurers to mitigate their risk exposure, while Greenlight Capital Re benefits from the steady revenue stream generated by these premiums.

Greenlight Capital Re is renowned for its robust financial performance and prudent investment strategies. The company has demonstrated consistent growth, achieving a record underwriting income of $32.0 million for the full year 2023. This success is attributed to its disciplined underwriting practices and a well-diversified investment portfolio.

The company recently announced significant leadership changes, with Simon Burton set to depart and Greg Richardson appointed as the new Chief Executive Officer, effective January 1, 2024. Under Richardson’s leadership, Greenlight Capital Re aims to continue its trajectory of growth and innovation.

Recent Achievements:

  • Record underwriting income of $32.0 million for 2023.
  • Strong premium growth of 16.5% in the first quarter of 2024, leading to a net income of $27.0 million.

Current Projects and Focus:

Greenlight Capital Re is currently focused on expanding its market presence and enhancing its service offerings. The company is investing in advanced risk assessment technologies to improve its underwriting capabilities. Additionally, it is exploring strategic partnerships to diversify its portfolio and offer innovative reinsurance solutions.

For the latest updates and information on Greenlight Capital Re’s performance, please refer to the company’s news section or contact their Investor Relations at IR@greenlightre.ky.

Rhea-AI Summary
Greenlight Capital Re, Ltd. (NASDAQ: GLRE) reported a significant 18.0% increase in gross premiums written, with net income of $13.5 million ($0.39 per diluted ordinary share) and a 2.3% increase in fully diluted book value per share to $16.58. The company's underwriting income of $14.4 million improved, along with a combined ratio of 91.2% compared to 115.4% in the previous year. The results demonstrate strong growth and financial stability, despite challenges in the equity markets.
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Greenlight Capital Re, Ltd. (Nasdaq: GLRE) announces CEO Simon Burton's departure and appointment of Greg Richardson as the new CEO effective January 1, 2024. Burton to step down as director on December 31, 2023. Richardson brings industry expertise and experience from TransRe and Harbor Point Re.
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Greenlight Capital Re, Ltd. expects to release its financial results for the quarter ended September 30, 2023, on November 8, 2023. A conference call to discuss the results will be held on November 9, 2023. Details for participating in the call can be found in the press release.
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Greenlight Capital Re, Ltd. (NASDAQ: GLRE) expects to release financial results for the quarter ended June 30, 2023, on August 2, 2023. A live conference call to discuss the financial results will be held on August 3, 2023, at 9:00 a.m. Eastern Time. Conference call details and webcast access are provided.
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Greenlight Capital Re (NASDAQ: GLRE) has appointed David E. Sigmon as its new General Counsel, Corporate Secretary, and Chief Compliance Officer, pending regulatory and immigration approvals. Mr. Sigmon, who brings extensive experience in the insurance and reinsurance industry, will oversee the Company’s legal and compliance functions. Prior to this role, Sigmon held senior legal positions at Everest Re Group and AmTrust Financial Services. His background includes managing complex transactions and corporate law matters. CEO Simon Burton expressed enthusiasm about Sigmon's appointment, citing his leadership experience as vital for the company's future. Greenlight Re continues to focus on multiline property and casualty insurance and is known for its innovative investment strategies.

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Greenlight Capital Re, Ltd. (NASDAQ: GLRE) reported a strong fourth quarter of 2022 with a net income of $34.8 million, or $0.91 per diluted share, up from $24.3 million in Q4 2021. Key metrics include a combined ratio of 94.2% versus 96.4% in the prior year, and total investment income rising to $32.5 million from $25.3 million. The full year saw gross premiums written at $563.2 million, a slight 0.4% decline, while net premiums earned decreased by 12.9% to $469.5 million, attributed to challenges from geopolitical events and natural disasters. The fully diluted book value per share increased 7.7% to $14.59.

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Greenlight Capital Re announced Faramarz Romer's appointment as Chief Financial Officer, effective April 1, 2023, succeeding Neil Greenspan. Romer, who has been with the company since 2007 and served as Chief Accounting Officer and Treasurer, is expected to enhance the company's long-term value delivery. CEO Simon Burton expressed confidence in Romer's capabilities and acknowledged Greenspan's contributions over the past five years. Greenlight Re operates in multiline property and casualty insurance and reinsurance, utilizing a non-traditional investment strategy aimed at achieving superior long-term returns.

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FAQ

What is the current stock price of Greenlight Captial RE, LTD. (GLRE)?

The current stock price of Greenlight Captial RE, LTD. (GLRE) is $15 as of December 4, 2024.

What is the market cap of Greenlight Captial RE, LTD. (GLRE)?

The market cap of Greenlight Captial RE, LTD. (GLRE) is approximately 522.5M.

What does Greenlight Capital Re, Ltd. do?

Greenlight Capital Re, Ltd. provides property and casualty reinsurance, taking on risk from insurers in exchange for premiums.

Where is Greenlight Capital Re, Ltd. headquartered?

Greenlight Capital Re, Ltd. is headquartered in Dublin, Ireland.

Who are the primary customers of Greenlight Capital Re, Ltd.?

The primary customers are property and casualty insurers.

What was the company's underwriting income for 2023?

Greenlight Capital Re achieved a record underwriting income of $32.0 million for the full year 2023.

Who is the new CEO of Greenlight Capital Re, Ltd.?

Greg Richardson will be appointed as the new Chief Executive Officer, effective January 1, 2024.

How much did Greenlight Capital Re earn in net income in the first quarter of 2024?

The company reported a net income of $27.0 million for the first quarter of 2024.

What recent achievements has Greenlight Capital Re had?

Recent achievements include record underwriting income of $32.0 million for 2023 and premium growth of 16.5% in Q1 2024.

How can I contact Greenlight Capital Re's Investor Relations?

You can contact Investor Relations at IR@greenlightre.ky.

What are Greenlight Capital Re’s current projects?

The company is focusing on expanding market presence, improving underwriting capabilities with advanced technologies, and exploring strategic partnerships.

Where can I find the latest updates on Greenlight Capital Re?

You can find the latest updates and information on the company's news section or contact their Investor Relations.

Greenlight Captial RE, LTD.

Nasdaq:GLRE

GLRE Rankings

GLRE Stock Data

522.49M
26.48M
23.72%
50.16%
0.47%
Insurance - Reinsurance
Fire, Marine & Casualty Insurance
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United States of America
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