Greenlight Capital Re, Ltd. Opens Ireland Subsidiary

Greenlight Capital Re 

09.09.2010 21:50 
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Dublin-Based Company to Expand Greenlight Re's International Reach and
Capitalize on European Market Opportunities; David Maguire Named General
Manager 

GRAND CAYMAN, Cayman Islands, Sept. 9, 2010 (GLOBE NEWSWIRE) -- Greenlight
Capital Re, Ltd. (Nasdaq:GLRE) today announced the formation of a new
subsidiary, Greenlight Reinsurance Ireland, Ltd., to expand the company's
international presence and provide a platform to serve clients in the European
market. 

David Maguire, an experienced reinsurance and insurance executive with 19 years
in positions of increasing executive responsibility in underwriting, rating and
risk management, was named General Manager of Greenlight Re Ireland. Mr.
Maguire has previously held management and underwriting positions at Travelers,
Hannover Re, QBE and Lloyd's of London. The company will be headquartered in
the International Financial Services Centre in Dublin. 

'We are excited to expand our presence and to leverage our expertise with our
clients and partners in the European Union,' said Len Goldberg, CEO of
Greenlight Re. 'We particularly look forward to partnering with our clients and
their brokers to help them fully appreciate the impact of Solvency II on their
businesses, and to explore unique opportunities to enhance their capital
position through the utilization of reinsurance.' 

Greenlight Re Ireland plans to provide multi line reinsurance capacity
predominantly to the European broker market. The company will concentrate on
forming long-term partnerships with clients that are niche specialists and
experts in their field. 

'Ireland presents an excellent platform for Greenlight Re to bring our
partnership-oriented underwriting approach to Europe,' stated Bart Hedges,
President and CUO of Greenlight Re. 'We are delighted to welcome David Maguire
to our team. David and his colleagues will be working through brokers to
identify clients that value having a flexible reinsurance capital partner to
help them manage their risk and compete better in the market place.' 

Greenlight Capital Re, Ltd. was launched in 2004. As of June 30, 2010 the
company had shareholders' equity of $735 million. 

About Greenlight Capital Re, Ltd. 

Greenlight Re (www.greenlightre.ky) is an AM Best 'A-' (Excellent) rated
specialist property and casualty reinsurance company based in the Cayman
Islands. The Company provides a variety of custom-tailored reinsurance
solutions to the insurance, risk retention group, captive and financial
marketplaces. Established in 2004, Greenlight Re selectively offers customized
reinsurance solutions in markets where capacity and alternatives are limited.
With a focus on deriving superior returns from both sides of the balance sheet,
Greenlight Re's assets are managed according to a value-oriented equity-focused
strategy that complements the Company's business goal of long-term growth in
book value per share. 

The Greenlight Capital Re logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=5571 

CONTACT:  Greenlight Reinsurance Ireland, Ltd.
          David Maguire, General Manager
          david@greenlightre.ie

          Greenlight Reinsurance, Ltd.
          Bart Hedges, President and CUO 
          bart@greenlightre.ky 
          Andie Welsch, Business Development
          (345) 749 0216 
          andie@greenlightre.ky

          Stanton Public Relations & Marketing 
          For Media and Investors:
          Alex Stanton
          (212) 780-0701 
          astanton@stantonprm.com

News Source: NASDAQ OMX



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Language:     English
Company:      Greenlight Capital Re
              
               
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ISIN:         KYG4095J1094
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