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GLRE-News
GLRE-Events
Hippo Holdings Partners with Greenlight Capital Re for Strategic Investment
Hippo Holdings (HIPO) announced a strategic partnership with the Innovations segment of Greenlight Capital Re, Ltd. (GLRE) that connects opportunities to invest in emerging managing general agents with carrier and reinsurance support for their programs. Through the investment model of Greenlight Re Innovations, Hippo can invest alongside Greenlight Re in early-stage insurance programs, while its subsidiary Spinnaker Insurance Company can serve as Greenlight's preferred U.S. admitted fronting carrier for qualifying co-invested programs as opportunities align. Spinnaker will issue the insurance policies behind those programs through a connected, aligned deal flow. Greenlight Re will bring reinsurance capacity and expertise to support the insurance risk. Emerging MGAs need funding to build their businesses, an insurer to issue their policies and reinsurance to support the risk. This partnership will coordinate the beneficial relationships emerging MGAs need for capacity, capital, and expertise for qualifying programs. For the wider insurance market, the aim is to help new providers develop products backed by experienced underwriting and reinsurance partners.
Greenlight Re appoints Martin Vezina as head, underwriting analytics
Greenlight Reinsurance announced the appointment of Martin Vezina as Head of Underwriting Analytics with immediate effect. In this capacity, Vezina will play a pivotal role in overseeing Greenlight Re's underwriting analytics and pricing function and will be based out of the Company's headquarters in Grand Cayman. Vezina has held various senior underwriting positions at Allianz, New Ocean Capital, AQR Re, and Markel.
Greenlight Capital Re reports Q4 EPS (81c) vs. (50c) last year
Reports gross premiums written increased 28.0% to $143.8M ;Net premiums earned increased 7.8% to $148.1M; Net underwriting loss of $18M , compared to net underwriting income of $11.8M; Combined ratio of 112.1%, compared to 91.4%; Total investment income of $2.6 M compared to $14.1M; and Net loss of $27.4 M or 81c per diluted ordinary share, compared to net income of $17.6M , or 50c per diluted ordinary share. Gross Premiums Written Increased 28% To $143.8M...Net income of $42.8 million, or $1.24 per diluted ordinary share, compared to $86.8 million, or $2.50 per diluted ordinary share; and Fully diluted book value per share increased 7.2% to $17.95, from $16.74 at December 31.
Greenlight Capital Re reports Q3 EPS $1.01, one estimate 65c
Reports Q3 revenue $188.01M vs. $166.92M last year. Gross premiums written were $168.3M compared to $183.1M last year, while net premiums earned were $151.9M, compared to $163.1M last year. David Einhorn, Chairman of the Board of Directors, said, "Solasglas generated a net return of 5.2% in the third quarter, while maintaining a conservative exposure to equity markets. Despite significant natural catastrophe events during the quarter, Greenlight Re performed well, with positive performance on both our underwriting and investment activities."
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