Greenlight Capital Re, Ltd. Announces the Appointment of Heejae Cho as Head of Innovations Underwriting
June 15 2021 - 8:30AM
Greenlight Capital Re, Ltd. (NASDAQ: GLRE) (“Greenlight Re” or the
“Company”), a specialist property and casualty reinsurer based in
the Cayman Islands and Ireland, today announced the appointment of
Heejae Cho as Head of Innovation Underwriting. Ms. Cho joins
Greenlight Re with over 18 years of senior underwriting and
actuarial experience at ACE, XL and Arch.
She will be responsible for managing the
underwriting activities within the growing Greenlight Re
Innovations unit, which supports technology innovators and
evaluates potential applications to the Company’s reinsurance
operations.
Before joining Greenlight Re, Ms. Cho led a
startup insurtech, Viridis RS Ltd., which utilized technology and
aerial data to help insurance carriers protect farmers by providing
early warnings of pest and crop conditions. Prior to her time at
Viridis, Ms. Cho served as an underwriter at Arch Re, where she
managed specialty and liability classes.
“Opportunities generated by Greenlight Re
Innovations is a key element of our underwriting business and we
expect continued growth in this area,” said Simon Burton,
Greenlight Re’s Chief Executive. “Heejae has over 18 years of
experience in the Bermuda market and with insurtech initiatives. We
are delighted to welcome her to the team.”
“Greenlight Re Innovations has built an
excellent reputation in the Insurtech sector, and there is
tremendous potential in the associated underwriting opportunities,”
Ms. Cho said.
About Greenlight Capital Re, Ltd.
Greenlight Re (www.greenlightre.com) provides
multi-line property and casualty reinsurance through its licensed
and regulated reinsurance entities in the Cayman Islands and
Ireland. The Company complements its underwriting activities with a
non-traditional investment approach designed to achieve higher
rates of return over the long term than reinsurance companies that
exclusively employ more traditional investment strategies. In 2018,
the Company launched its Greenlight Re Innovations unit, which
supports technology innovators in the (re)insurance space by
providing investment, risk capacity, and access to a broad
insurance network.
Forward Looking Statements
This news release contains forward-looking statements within the
meaning of the U.S. federal securities laws. The Company intends
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
the Company’s 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.
For further information contact:
Investor Relations:Adam PriorThe Equity Group
Inc.(212) 836-9606IR@greenlightre.ky
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/7d10cc7b-be62-4ecb-af57-d75ebb6ecde1
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