DGAP-News: Traynor Takes Helm as General Manager of Greenlight Re Ireland
ID: 653695
06.06.2012 10:00
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Will Lead Expansion of Irish Office
DUBLIN, Ireland, 2012-06-06 10:00 CEST (GLOBE NEWSWIRE) --
Greenlight Reinsurance Ireland, Ltd., a subsidiary of Greenlight Capital Re,
Ltd. (Nasdaq:GLRE), a specialist property and casualty reinsurer, today
announced that Caryl J. Traynor officially joined the company on June 1, 2012,
serving in the role of General Manager and operating from the Company's Dublin
office. He is responsible for recruiting experienced staff and building the
business in the United Kingdom and Europe.
'We see opportunity in the European market right now, and are pleased to have
Caryl aboard to oversee the expansion of our capabilities,' said Bart Hedges,
Chief Executive Officer of Greenlight Capital Re, which is based in the Cayman
Islands. 'An immediate focus will be to identify and recruit qualified staff to
build our team and better position us to serve the needs of clients as we
pursue opportunities in the reinsurance marketplace.'
'Our primary focus is developing long-term reinsurance relationships with
partners in the UK and Europe,' Mr. Traynor stated. 'We see many avenues for
growth in Europe created by changing market conditions, Solvency II and other
imposed capital constraints. We believe Greenlight Re Ireland is well
positioned to capitalize on these opportunities.'
Mr. Traynor joined Greenlight Re Ireland from the Canopius Group, where he
served as Chief Executive Officer of Canopius Ireland Limited for the past four
years. In his previous role, he was responsible for establishing an office in
Ireland and creating a market profile and presence in a market segment where
the company had not previously participated. Prior to that, Mr. Traynor was a
Director at GE Insurance Solutions/Swiss Re, where he underwrote reinsurance
business in the London, Europe, U.S. and Bermuda markets.
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 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 a specialist property and casualty
reinsurance company based in the Cayman Islands and Ireland. The Company
employs a client-centric approach to underwriting to develop long term
reinsurance relationships. Established in 2004, 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
06.06.2012 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: 06.06.2012 - 10:00 Uhr
Sprache: Deutsch
News-ID 653695
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