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Cayman-based reinsurer to host investor meeting in New York

Published on Sunday, April 18, 2010 Email To Friend    Print Version

Greenlight Capital Re Ltd
Chairman, David Einhorn

Greenlight Capital Re Ltd, a specialty property and casualty reinsurer based in the Cayman Islands, will hold an investor meeting on Tuesday, May 18, 2010 in New York City.

Presentations will be given by Chairman David Einhorn, Chief Executive Officer Len Goldberg, and members of the executive management team.

“Having achieved key milestones since our last investor meeting, we look forward to updating current and prospective investors on our business progress and financial performance,” said Mr Goldberg.

Following the event, presentation slides and an audio recording of the presentation will be posted in the news section of the company’s web site.

Greenlight Re is an AM Best “A-” (Excellent) rated specialist property and casualty reinsurance company. The company provides a variety of custom-tailored reinsurance solutions to the insurance, risk retention group, captive and financial marketplaces. Established in 2004, Greenlight Re selectively offers customized reinsurance solutions in markets where capacity and alternatives are limited.

According to Mr Goldberg, an important element of Greenlight’s business plan is to service the local captive insurance, but it also reach out around the world.

“We are very much a global reinsurance company. We are not just doing business in Cayman,” he said.

When Greenlight was first established here, Mr Goldberg explained there were a few factors in deciding to set up the headquarters in the Cayman Islands rather than in Bermuda, which is a leader in the reinsurance market.

First, it was a chance to break new ground in the Cayman Islands. Second, the country offers a mature regulatory environment, with hedge funds, banking and captive insurance and respected around the world. Third, at the time, there was $22 billion in captive insurance assets in Cayman.

“Our business plan is slightly different than most,” Mr Goldberg said. “We were looking to differentiate ourselves. The jurisdiction in Cayman is part of that differentiation.”
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