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Greenlight Re hires ex-Endurance and Validus exec Michael Belfatti as COO

Hedge fund backed reinsurance firm Greenlight Re has created the role of Chief Operating Officer for its latest hire, Michael Belfatti, who joins the David Einhorn backed reinsurer following a career that involved senior roles at both Endurance and Validus.Belfatti joins Cayman Islands headquartered Greenlight Capital Re in this newly read the full article →

Investment oriented reinsurance model best when sponsored: S&P

The total return reinsurance model, or investment oriented reinsurance model, or hedge fund backed reinsurance model (depending on what you prefer to call it), remains a challenging strategy to execute on well, but more recent start-ups that are sponsored by an existing re/insurer and asset manager are favoured by S&P.Rating read the full article →

Greenlight Re strikes $1.1bn auto lines quota share with Windhaven

Greenlight Capital Re Ltd. (Greenlight Re), the David Einhorn hedge fund backed reinsurance firm from the Cayman Islands, has struck a $1.1 billion quota share renewal with Windhaven, that will see the reinsurer assume auto business line risks.The two-year quota share deal is a renewal of an existing arrangement, that read the full article →

Greenlight Re hires Simon Burton (ex-SAC Re) as CEO

Greenlight Re, the hedge fund backed reinsurance firm that counts David Einhorn's Greenlight Capital hedge fund as its investment manager, has hired Simon Burton as its new permanent Chief Executive Officer.Burton was previously the Chief Executive Officer of SAC Re, the total-return or hedge fund strategy reinsurance firm that had read the full article →

Bart Hedges leaving Greenlight Re, to step down as CEO & from board

Bart Hedges is leaving hedge fund backed reinsurance firm Greenlight Re, stepping down from his Chief Executive Officer position as of March 31st 2017 and also from his Board position at the reinsurer.Greenlight Re, which is backed by hedge fund manager David Einhorn and his Greenlight Capital hedge fund, is read the full article →

Greenlight Re strikes deal to grow in Europe and Asia

Greenlight Re, the Cayman Islands and Ireland based investment-oriented reinsurance firm which is backed by hedge fund manager David Einhorn, is looking for risk sourcing opportunities in Europe and Asia, striking a partnership to help it expand.The firms Irish subsidiary Greenlight Reinsurance Ireland, dac, has entered into an agreement with read the full article →

Hedge fund reinsurers benefit from strong investments in July

The two highest-profile proponents of the hedge fund reinsurance strategy, Third Point Re and Greenlight Re, have both benefited from very strong July investment returns, with a considerable boost to the year being received at both firms.By the mid-point of the year the two hedge fund backed reinsurers saw investment read the full article →

S&P warns on longevity of hedge fund reinsurance model

The performance of hedge fund reinsurers diverged in the opening months of 2016 following investment market volatility. Consistently being outperformed by traditional reinsurers Standard & Poor’s (S&P) questions the longevity, and success of the hedge fund reinsurance business model.Hedge fund reinsurers continue to struggle in the softening reinsurance marketplace, exacerbated read the full article →

Third Point leads on Q2 2016 hedge fund reinsurer investment returns

Third Point Re, the Bermudian reinsurance firm backed by Daniel Loeb’s Third Point LLC hedge fund, has come out on top after the second-quarter when the firms investment portfolio return far outperformed the other main hedge fund reinsurer Greenlight Re.In the second quarter of 2016 Third Point Re has achieved read the full article →

Hedge fund reinsurer investment fortunes reverse in Q2 2016

Fortunes of the two main hedge fund reinsurance strategy proponents, David Einhorn backed Greenlight Re and Daniel Loeb backed Third Point Re, have reversed in the second-quarter to-date, with Einhorn's Greenlight Re suffering an investment loss, while Loeb's Third Point Re reported positive returns.The first-quarter of 2016 saw Greenlight Re read the full article →