Greenlight Captial Re (GLRE) Announces CEO Departure

Greenlight Capital Re, Ltd. (Nasdaq: GLRE) (the “Company” or “Greenlight Re”), a multiline property and casualty insurer and reinsurer, today announced that Simon Burton, the Company’s Chief Executive Officer, has informed the Board of Directors of his intention to depart from the Company and step down as a director, effective as of December 31, 2023. In connection with Mr. Burton’s impending departure, Greenlight Re announced that Greg Richardson will be appointed as the Company’s new Chief Executive Officer and a member of the Board of Directors, effective as of January 1, 2024. Mr. Burton will serve as an advisor and provide transitional services through April 2024.

Mr. Richardson previously served as Chief Risk and Strategy Officer at TransRe from 2014 to 2023. Prior to that, he held strategic planning and underwriting roles and served as Chief Underwriting Officer at Harbor Point Re (which merged with Max Re Capital to form Alterra Re) from 2006 to 2013. Mr. Richardson graduated with a Bachelor of Science Honors degree in Mathematics from Purdue University, was a Marshall Scholar at Oxford University, and obtained his Master of Business Administration degree in Finance from the University of Chicago.

“Greg’s deep expertise in the industry and experience in a number of underwriting and strategic positions, makes him uniquely suited for the Chief Executive Officer role at Greenlight Re. I am confident the team will capitalize on our significant growth opportunities with Greg at the helm,” said David Einhorn, Chairman of the Board of Directors at Greenlight Re. “Greg is an exceptional leader, and the Board and I believe he is the right person to guide Greenlight Re through our next chapter.”

“On behalf of the Board, I want to thank Simon for his leadership and dedication throughout his tenure at the Company. We are grateful for all he has done for Greenlight Re and wish him well in all of his future endeavors,” Mr. Einhorn further stated. “We look forward to building on everything we have accomplished during Simon’s tenure as the opportunities that lie ahead appear more promising than ever given the favorable reinsurance environment.”

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