Greenlight Capital Re, Ltd. Announces the Appointment of Heejae Cho as Head of Innovations Underwriting

Rhea-AI Summary

Greenlight Capital Re, Ltd. (NASDAQ: GLRE) has appointed Heejae Cho as the new Head of Innovation Underwriting as of June 15, 2021. Cho brings over 18 years of experience from prominent firms including ACE, XL, and Arch. She will oversee the underwriting activities of the Greenlight Re Innovations unit, which focuses on supporting technology innovators in the reinsurance space. CEO Simon Burton emphasized the importance of innovation to the company’s growth, highlighting its positive reputation in the Insurtech sector.

Positive

• Appointment of Heejae Cho as Head of Innovation Underwriting enhances leadership in the innovations unit.
• Cho's extensive experience in underwriting and insurtech initiatives is expected to drive growth.

Negative

• None.

GRAND CAYMAN, Cayman Islands, June 15, 2021 (GLOBE NEWSWIRE) -- Greenlight Capital Re, Ltd. (NASDAQ: GLRE) (“Greenlight Re” or the “Company”), a specialist property and casualty reinsurer based in the Cayman Islands and Ireland, today announced the appointment of Heejae Cho as Head of Innovation Underwriting. Ms. Cho joins Greenlight Re with over 18 years of senior underwriting and actuarial experience at ACE, XL and Arch.

She will be responsible for managing the underwriting activities within the growing Greenlight Re Innovations unit, which supports technology innovators and evaluates potential applications to the Company’s reinsurance operations.

Before joining Greenlight Re, Ms. Cho led a startup insurtech, Viridis RS Ltd., which utilized technology and aerial data to help insurance carriers protect farmers by providing early warnings of pest and crop conditions. Prior to her time at Viridis, Ms. Cho served as an underwriter at Arch Re, where she managed specialty and liability classes.

“Opportunities generated by Greenlight Re Innovations is a key element of our underwriting business and we expect continued growth in this area,” said Simon Burton, Greenlight Re’s Chief Executive. “Heejae has over 18 years of experience in the Bermuda market and with insurtech initiatives. We are delighted to welcome her to the team.”

“Greenlight Re Innovations has built an excellent reputation in the Insurtech sector, and there is tremendous potential in the associated underwriting opportunities,” Ms. Cho said.

About Greenlight Capital Re, Ltd.

Greenlight Re (www.greenlightre.com) provides multi-line property and casualty reinsurance through its licensed and regulated reinsurance entities in the Cayman Islands and Ireland. 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, 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. The Company intends 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 behalf of the Company. 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 the Company’s annual report on Form 10-K filed with the Securities and Exchange Commission. 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.

For further information contact:

Investor Relations:
Adam Prior
The Equity Group Inc.
(212) 836-9606
IR@greenlightre.ky

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7d10cc7b-be62-4ecb-af57-d75ebb6ecde1

FAQ

What is the role of Heejae Cho at Greenlight Capital Re?

Heejae Cho is appointed as the Head of Innovation Underwriting, responsible for managing underwriting activities within the Greenlight Re Innovations unit.

What experience does Heejae Cho bring to Greenlight Capital Re?

Heejae Cho has over 18 years of experience in senior underwriting and actuarial roles from companies such as ACE, XL, and Arch.

When was Heejae Cho appointed at Greenlight Capital Re?

Heejae Cho was appointed on June 15, 2021.

What is the focus of the Greenlight Re Innovations unit?

The Greenlight Re Innovations unit supports technology innovators and evaluates potential applications for the company's reinsurance operations.

How does Greenlight Re plan to grow its Innovations unit?

The company expects continued growth in the Innovations unit, leveraging opportunities in the Insurtech sector.