AM Best Comments on Credit Ratings of Greenlight Capital Re, Ltd. and Subsidiaries Following Announced Departure of CEO Simon Burton
10 Novembre 2023 - 3:50PM
Business Wire
AM Best has commented that the Credit Ratings (ratings)
of Greenlight Capital Re, Ltd. (Cayman Islands) (GLRE) [NASDAQ:
GLRE] and its subsidiaries remain unchanged following the announced
departure of CEO Simon Burton, effective Dec. 31, 2023.
Effective Jan. 1, 2024, succeeding Mr. Burton will be Greg
Richardson, who served as chief risk and strategy officer at
Transatlantic Holdings, Inc. from 2014 to 2023. Mr. Burton will
continue to serve in an advisory role and provide transitional
services to GLRE through April 2024.
The Financial Strength Ratings of A- (Excellent) and the
Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-”
(Excellent), both with stable outlooks, remain unchanged for
Greenlight Reinsurance Ireland, Designated Activity Company
(Ireland) and Greenlight Reinsurance, Ltd. (Cayman Islands). The
Long-Term ICR of “bbb-” (Good), with a stable outlook, remains
unchanged for GLRE.
This press release relates to Credit Ratings that have been
published on AM Best’s website. For all rating information relating
to the release and pertinent disclosures, including details of the
office responsible for issuing each of the individual ratings
referenced in this release, please see AM Best’s Recent
Rating Activity web page. For additional information
regarding the use and limitations of Credit Rating opinions, please
view Guide to Best's Credit Ratings. For information
on the proper use of Best’s Credit Ratings, Best’s
Performance Assessments, Best’s Preliminary Credit Assessments and
AM Best press releases, please view Guide to Proper Use of
Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and
data analytics provider specializing in the insurance industry.
Headquartered in the United States, the company does business in
over 100 countries with regional offices in London, Amsterdam,
Dubai, Hong Kong, Singapore and Mexico City. For more information,
visit www.ambest.com.
Copyright © 2023 by A.M. Best Rating
Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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Christopher Pennings, CPCU Financial Analyst +1
908 882 2237 christopher.pennings@ambest.com
Christopher Sharkey Associate Director, Public
Relations +1 908 882 2310
christopher.sharkey@ambest.com
Steven Chirico, CPA Director +1 908 882
1694 steven.chirico@ambest.com
Al Slavin Senior Public Relations Specialist +1
908 882 2318 al.slavin@ambest.com
Greenlight Capital Re (NASDAQ:GLRE)
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