Greenlight Capital Re, Ltd. · , Grand Cayman Cayman Islands ·(NASDAQ (GM): GLRE)
Company Description
Phone: +1-345-745-4573
Fax: +1-345-745-4576
View Greenlight Capital Re, Ltd. Locations On A US Map
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This link will open in a new window Greenlight Capital Re (Greenlight Re) gives the go-ahead to insurance companies looking to offset their losses. Through operating subsidiary Greenlight Reinsurance, the company sells property/casualty reinsurance, specializing in writing customized contracts in underserved markets, including casualty clash, homeowners insurance in some states (particularly Florida), marine, and property catastrophe. It also provides medical malpractice and workers' compensation reinsurance. Private equity firm Greenlight Capital formed the company in 2005, and it began underwriting business the following year. Greenlight Re went public in 2007. To read the full description, subscribe now.
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Key Greenlight Capital Re, Ltd. Financials
| Company Type | Public - NASDAQ (GM): GLRE Single Location |
| Fiscal Year-End | December |
Greenlight Capital Re, Ltd. Executives
20 executives listed for Greenlight Capital Re, Ltd.'s , Grand Cayman location.
| Title | Name & Bio | Contact |
| Chairman | David Einhorn | Network |
| CEO and Director | Leonard Goldberg | Network |
| Director of Operations | Mandy Vodak-Marotta | Network |
Competition
Competitive Landscape for Greenlight Capital Re, Ltd.
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top Greenlight Capital Re, Ltd. Competitors
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