Greenlight Re Announces Leadership Changes
07 Mars 2023 - 2:13PM
Greenlight Capital Re, Ltd. (NASDAQ: GLRE) (“Greenlight Re” or the
“Company”) today announced changes to its executive leadership
team. Faramarz Romer, the Company’s Chief Accounting Officer and
Treasurer, will be appointed Chief Financial Officer, effective as
of April 1, 2023. Mr. Romer will succeed Neil Greenspan, who is
leaving the Company on March 31, 2023.
“Faramarz has been an integral member of Greenlight Re’s finance
team since 2007 and is the right person to succeed Neil in the
Chief Financial Officer role,” said Simon Burton, Chief Executive
Officer of Greenlight Re. “He is a highly experienced and capable
finance professional. I am confident that in this new role,
Faramarz will continue to add to and strengthen our ability to
deliver long term value for our clients, partners and investors. On
behalf of the Board, I would like to congratulate Faramarz and wish
him continued success at Greenlight Re.”
Mr. Burton continued, “In addition, on behalf of everyone at
Greenlight Re, I want to thank Neil for his many contributions to
the Company over the past five years. We are grateful to Neil for
his efforts and for ensuring a smooth and orderly succession. We
wish him all of the best in all of his future endeavors.”
About Faramarz Romer
Since September 2020, Mr. Romer has served as Chief Accounting
Officer and Treasurer of the Company. From July 2007 to September
2020, Mr. Romer served as Reporting and Compliance Officer and
oversaw the Company’s Securities and Exchange Commission reporting,
periodic and annual financial reporting, internal audit and SOX 404
process. Prior to joining the Company, Mr. Romer was a Senior
Manager at KPMG.
He received his Bachelor of Arts in Business Administration from
the University of Western Ontario – Richard Ivey School of
Business. Mr. Romer is a Certified Public Accountant (CPA) and
member of the Chartered Professional Accountants of Canada.
About Greenlight Capital Re, Ltd.
Greenlight Re (www.greenlightre.com) provides multiline property
and casualty insurance and reinsurance through its licensed and
regulated reinsurance entities in the Cayman Islands and Ireland,
and its Lloyd’s platform, Greenlight Innovation Syndicate 3456. The
Company complements its underwriting activities with a
non-traditional investment approach designed to achieve higher
rates of return over the long term than reinsurance companies that
exclusively employ more traditional investment strategies. In 2018,
the Company launched its Greenlight Re Innovations unit, which
supports technology innovators in the (re)insurance space by
providing investment capital, risk capacity, and access to a broad
insurance network.
Forward-Looking Statements
This news release contains forward-looking statements within the
meaning of the U.S. federal securities laws. We intend these
forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements in the U.S. Federal
securities laws. These statements involve risks and uncertainties
that could cause actual results to differ materially from those
contained in forward-looking statements made on the Company’s
behalf. These risks and uncertainties include the impact of general
economic conditions and conditions affecting the insurance and
reinsurance industry, the adequacy of our reserves, our ability to
assess underwriting risk, trends in rates for property and casualty
insurance and reinsurance, competition, investment market
fluctuations, trends in insured and paid losses, catastrophes,
regulatory and legal uncertainties and other factors described in
our Forms 10-K and 10-Q filed with the Securities Exchange
Commission on March 8, 2022, and May 3, 2022, respectively. The
Company undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise, except as provided by law.
Investor Relations ContactKarin DalyVice President, The Equity
Group Inc.(212) 836-9623IR@greenlightre.ky
Greenlight Capital Re (NASDAQ:GLRE)
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