DGAP-News: Len Goldberg to Retire as CEO of Greenlight Re
ID: 397139
02.05.2011 14:55
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Bart Hedges Appointed SuccessorGRAND CAYMAN, Cayman Islands, May 2, 2011 (GLOBE NEWSWIRE) -- Greenlight
Capital Re, Ltd. (Nasdaq:GLRE) ('Greenlight Re' or the 'Company'), a multi-line
property and casualty reinsurance company headquartered in the Cayman Islands,
today announced that Chief Executive Officer Len Goldberg will retire on August
15, 2011. Bart Hedges, current President and Chief Underwriting Officer of
Greenlight Re, will succeed Goldberg upon his retirement.
'I am proud to have been involved with Greenlight Re from start-up through its
evolution to the Company it is today, and now I have made a personal decision
to return to the U.S. to spend more time with my family,' said Goldberg. 'I
intend to continue to have a significant interest in Greenlight Re, and I am
committed to a seamless transition and to supporting the Company's growth as a
continuing Board member.'
'We are very grateful to Len for his outstanding contributions in driving
Greenlight Re's development to date,' said David Einhorn, Chairman of the Board
of Directors of Greenlight Re. 'We understand his decision and are pleased that
he will remain an important contributor to the Company's success as an active
member of the Board.'
Goldberg served as Chief Executive Officer and a Director since August 2005.
Hedges joined Greenlight Re in January 2006 as President and Chief Underwriting
Officer and has 25 years experience in the property and casualty insurance and
reinsurance industry.
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 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 our 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.
About Greenlight Capital Re, Ltd.
Greenlight Re (www.greenlightre.ky) is an AM Best 'A-' (Excellent) rated
specialist property and casualty reinsurance company based in the Cayman
Islands. The Company provides a variety of custom-tailored reinsurance
solutions to the insurance, risk retention group, captive and financial
marketplaces. Established in 2004, Greenlight Re selectively offers customized
reinsurance solutions in markets where capacity and alternatives are limited.
With a focus on deriving superior returns from both sides of the balance sheet,
Greenlight Re's assets are managed according to a value-oriented equity-focused
strategy that complements the Company's business goal of long-term growth in
book value per share.
The Greenlight Capital Re logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=5571
CONTACT: Alex Stanton
Stanton Public Relations& Marketing
(212) 780-0701
astanton@stantonprm.com
News Source: NASDAQ OMX
02.05.2011 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Greenlight Capital Re
Cayman Islands
Phone:
Fax:
E-mail:
Internet:
ISIN: KYG4095J1094
WKN:
End of Announcement DGAP News-Service
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Datum: 02.05.2011 - 14:55 Uhr
Sprache: Deutsch
News-ID 397139
Anzahl Zeichen: 5168
Kontakt-Informationen:
Kategorie:
Wirtschaft (allg.)
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