Greenlight Captial RE, LTD. - GLRE STOCK NEWS

Greenlight Re Innovations (GRI), a subsidiary of Greenlight Capital Re (NASDAQ: GLRE), announced an investment in Blueprint Holding Co., a digital title insurance company. This investment aims to streamline the title insurance market, which has high expenses due to agency commissions. Blueprint's technology enhances the closing process, making it more efficient. Simon Burton, CEO of Greenlight Re, highlighted the opportunity for innovation in the title market. Blueprint aims to simplify real estate transactions using modern technology and practices.

Greenlight Capital Re (GLRE) reported a net loss of $13.9 million, or $0.42 per share, in Q3 2021, down from a net income of $2.2 million in Q3 2020. The combined ratio worsened to 109.3% from 100.4%, primarily due to $25.9 million in catastrophe losses from various disasters. However, the adjusted combined ratio improved to 90.3%, indicating better underlying performance. Total investment income was $4.1 million, down from $6.9 million in 2020. The company repurchased shares and had $21.7 million remaining under its repurchase plan.

Greenlight Capital Re (NASDAQ: GLRE) is set to release its financial results for Q3 2021 on November 3, 2021, after market close. A conference call to discuss the results will take place on November 4, 2021, at 9:00 a.m. ET. Interested participants can join via a dedicated dial-in or webcast. Greenlight Re specializes in multi-line property and casualty reinsurance and employs a non-traditional investment strategy aimed at higher returns. The company also fosters innovation in the reinsurance sector through its Greenlight Re Innovations unit.

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.

Greenlight Capital Re, Ltd. (GLRE) has announced an investment in Shepherd Labs, Inc., a construction insurance MGA focused on middle-market contractors embracing technology. This partnership aims to enhance underwriting efficiency by leveraging advanced construction technologies and data integration, addressing the construction industry's slow tech adoption. Shepherd's approach promises faster and more accurate underwriting, benefiting contractors who invest in technology to mitigate risks. CEO Simon Burton highlighted the industry's inefficiencies and the potential of this collaboration to optimize processes and data collection.

Greenlight Capital Re (NASDAQ: GLRE) reported its Q2 2021 results with a net income of $0.6 million, or $0.02 per share, up from a net loss of $0.1 million in Q2 2020. The combined ratio improved to 96.5% from 101.2% year-over-year, while gross premiums written increased by 21.3% to $141.6 million. Total investment income was $2.0 million, down from $5.5 million in Q2 2020. Fully diluted book value per share rose 0.8% to $13.60. The company showed optimism regarding future operations despite some impacts from COVID-19 and legacy contracts.

Greenlight Capital Re, Ltd. (Nasdaq: GLRE) announced the expansion of its Board of Directors to nine members with the appointments of Johnny Ferrari, Ursuline Foley, and Victoria Guest as independent directors, effective July 30, 2021. David Einhorn, Chairman, highlighted their extensive experience in finance and governance as valuable assets to the company's growth. Ferrari, a former KPMG consultant, Foley, with a background in insurance operations, and Guest, ex-General Counsel of Hamilton Insurance Group, bring diverse expertise to strengthen Greenlight Re's leadership.

Greenlight Capital Re, Ltd. (GLRE) announced the release of its financial results for Q2 2021, scheduled for August 3, 2021, after market close. A conference call to discuss these results will be held on August 4, 2021, at 9:00 a.m. ET. Investors can participate by calling specific numbers or accessing the webcast. Greenlight Re specializes in property and casualty reinsurance, employing innovative investment strategies alongside traditional underwriting. The company also supports tech innovators in the insurance sector through its Greenlight Re Innovations unit.

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.