Greenlight Capital Re, Ltd. Appoints Brian O’Reilly to Head of Innovations

Rhea-AI Summary

Greenlight Capital Re (NASDAQ: GLRE) has appointed Brian O'Reilly as the new Head of Innovations. O'Reilly, a founding member of Greenlight Re Innovations, will oversee growth in this division, which is vital for expanding the company’s brand and product offerings. He aims to support 18 existing portfolio companies while seeking additional early-stage insurtechs. The company also appointed Alex Whitney as an Innovations Associate and promoted Elliot Vernon to Innovations Associate. Greenlight Re focuses on multi-line property and casualty reinsurance alongside innovative investment strategies.

Positive

• Appointment of Brian O'Reilly may drive strategic innovation and growth in insurtech investments.
• Expansion of Greenlight Re Innovations could enhance the company's market positioning.

Negative

• Concerns about continuity as leadership transitions may impact existing projects.

GRAND CAYMAN, Cayman Islands, Oct. 01, 2021 (GLOBE NEWSWIRE) -- Greenlight Capital Re, Ltd. (NASDAQ: GLRE) (“Greenlight Re” or the “Company”), has appointed Brian O’Reilly as Head of Innovations.

Commenting on the promotion, Simon Burton, Chief Executive Officer at Greenlight Re said: “As a founding member of Greenlight Re Innovations, Brian has done a tremendous job positioning Greenlight as a strategic partner to early stage insurtechs. In his new role, Brian is responsible for the growth of the unit, which is increasingly important to Greenlight’s brand and product offerings.”

Brian O’Reilly said, “I look forward to continuing to support our 18 portfolio companies and, at this exciting time in insurtech, sourcing additional early-stage innovative companies as we look to expand our portfolio.”

Mr. O’Reilly joined Greenlight Re in 2013 and has held a variety of roles within the actuarial and underwriting teams. In 2018, he was part of the founding team of Greenlight Re Innovations. He is an Associate of the Casualty Actuarial Society and holds a Bachelor of Business Administration degree in Finance from the University of Miami.

Greenlight Re Innovations also announced the appointment of Alex Whitney as an Innovations Associate and the promotion of Elliot Vernon to Innovations Associate. Prior to joining Greenlight Re, Alex was an investor with ManchesterStory, a venture capital firm specializing in insurtech, fintech and digital health companies.

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

FAQ

What is the significance of Brian O'Reilly's appointment at Greenlight Re?

Brian O'Reilly's appointment as Head of Innovations is significant as it positions him to lead the growth of Greenlight Re Innovations, focusing on enhancing partnerships with early-stage insurtechs.

When was Brian O'Reilly appointed Head of Innovations?

Brian O'Reilly was appointed as Head of Innovations on October 1, 2021.

What are the goals of Greenlight Re Innovations under O'Reilly's leadership?

Under O'Reilly's leadership, Greenlight Re Innovations aims to support existing portfolio companies and source additional early-stage innovative companies in the insurtech sector.