Greenlight Capital Re Ltd Stock Price, News & Analysis

Greenlight Re Innovations, part of Greenlight Capital Re (NASDAQ: GLRE), has invested in Paxafe, a platform enhancing supply chain visibility for high-value and perishable cargo. Paxafe's ‘CONTXT’ technology leverages IoT sensors to provide real-time tracking of shipments, including environmental conditions like temperature and humidity. This investment aims to improve cargo risk underwriting and reduce losses in the supply chain, addressing historical insights gaps faced by shippers and insurers.

Greenlight Capital Re, Ltd. (NASDAQ: GLRE) announced its Q1 2021 financial results, reporting a net income of $6.5 million, or $0.19 per share, a recovery from a net loss of $40.3 million in Q1 2020. The company reported a combined ratio of 101.5%, up from 98.9% in the prior year. Gross written premiums increased by 55% to $170 million, driven by new multi-line contracts. Investment income reached $18.7 million, a significant improvement from a loss of $35.3 million a year prior. Greenlight Re's fully diluted book value per share rose to $13.49.

Greenlight Capital Re, Ltd. (NASDAQ: GLRE) announced it will release financial results for Q1 2021 after market close on May 5, 2021. A conference call to discuss these results is scheduled for May 6, 2021, at 9:00 a.m. Eastern time. Greenlight Re, based in the Cayman Islands, specializes in property and casualty reinsurance, utilizing a non-traditional investment strategy aimed at achieving higher long-term returns than its competitors relying solely on traditional investments.

Greenlight Re Innovations (GRI) has announced an investment in Ao1 Holdings Inc. (Player’s Health), a managing general underwriter focused on the amateur sports insurance market. Player’s Health uses proprietary software for risk management and injury insights to enhance safety in sports. This marks GRI's fourteenth strategic investment, emphasizing its commitment to innovation in risk management. CEO Simon Burton highlighted the market-leading approach of Player’s Health, while founder Tyrre Burks expressed gratitude for GRI's support in advancing their mission to protect athletes.

Greenlight Re Innovations (GRI), part of Greenlight Capital Re, Ltd. (NASDAQ: GLRE), has announced an investment in TradeCrediTech Ltd. (Nimbla), a digital managing general underwriter specializing in SME credit insurance. Nimbla's automated platform facilitates real-time credit risk analysis and immediate insurance quotes at the invoice level, revolutionizing traditional trade credit processes. This strategic move aims to enhance protection for businesses in the current economic climate, marking GRI's thirteenth investment to support technological innovation in the reinsurance sector.

Greenlight Capital Re (GLRE) reported a net income of $42.0 million, or $1.20 per share, for Q4 2020, marking a turnaround from a net loss of $30.3 million in Q4 2019. The company achieved a combined ratio of 101.0%, improving from 114.5% the previous year. Total investment income was $48.4 million, including $38.5 million from the Solasglas fund. Fully diluted book value per share rose 11.6% to $13.42. For the year, net written premiums were $477.5 million, a slight increase from 2019.

Greenlight Capital Re, Ltd. (NASDAQ: GLRE) will release its financial results for the quarter ended December 31, 2020, on March 10, 2021, after market close. A conference call to discuss these results is scheduled for March 11, 2021, at 9:00 a.m. Eastern time. Interested participants can join via toll-free numbers or a webcast. The company emphasizes its focus on risk management products while acknowledging potential risks related to economic conditions, underwriting, and competition.

Greenlight Capital Re has scheduled its 2021 annual general meeting for May 4, 2021. Shareholders of record by March 12, 2021 are entitled to vote on meeting matters. The company will send notices and voting instructions to its shareholders, providing access to detailed proxy materials online. Established in 2004, Greenlight Re specializes in property and casualty reinsurance, focusing on risk management products and services. They aim for long-term growth in book value per share through a value-oriented investment strategy.

Greenlight Capital Re, Ltd. (NASDAQ: GLRE) has established a UK marketing entity, Greenlight Re Marketing (UK) Limited, to enhance its presence in the London market. Andrew Gladwin has been appointed as the first employee, bringing over 30 years of expertise in Marine & Energy reinsurance, previously working with Canopius and Swiss Re. This strategic move aims to expand Greenlight Re’s specialty business portfolio, which is crucial for growth, according to CEO Simon Burton.