Greenlight Capital

Cayman Islands-based Greenlight Re's Q4 results were boosted by $11.5mn of favorable prior-year development and premium increases at its Lloyd’s and financial lines businesses.

Greenlight Re Innovations invests in platform that can provide on-demand, per-shipment cover.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Greenlight CEO Simon Burton described title insurance as the perfect example of an inefficient marketplace with high expense ratios.

The executive also noted that proactively reducing Greenlight’s exposure to the auto market was a “good decision."

David Einhorn, the hedge fund reinsurer’s chairman, said the results "do not reflect the significant progress" Greenlight has made in revamping its underwriting and operations.

Greenlight Capital Re names new leadership and associates for InsurTech venture unit

The Inside P&C Select Index outperformed the S&P 500 (5.7% to 2.9%) in August, despite Hurricane Ida making landfall.

The drivers that led to the consolidation in the reinsurance industry might not replicate for a while.

The ratings agency has lifted the negative outlook it gave the total return reinsurer in May 2019.

The moves comes after the hedge fund reinsurer said on Wednesday it generated a roughly $5mn underwriting profit in Q2.

The company expects ‘similar resurgence’ of claims in workers’ comp over the next year.