DUBLIN, Ireland, Sept. 08, 2016 (GLOBE NEWSWIRE) -- Greenlight Reinsurance Ireland, dac, a subsidiary of Greenlight Capital Re, Ltd. (NASDAQ:GLRE), a specialist property and casualty reinsurer, today announced that it has entered into an agreement with Kattan Associates Limited, with immediate effect. Under the terms of the agreement, Kattan Associates will develop business opportunities in the European and Asian markets, on behalf of Greenlight Re and its subsidiary companies.
“This is an important step for Greenlight Re Ireland as we continue to expand our global footprint and further diversify our underwriting portfolio,” said Brendan Barry, Chief Underwriting Officer of Greenlight Re. “We believe that the extensive experience and relationships that Kattan Associates brings to the insurance industry will provide an excellent network for Greenlight Re to access attractive business.”
Habib Kattan is the owner director of Kattan Associates Limited and is an industry veteran with a career spanning forty years, spent in a variety of senior roles in insurance broking and underwriting.
“I am delighted that Greenlight Re has become a client of Kattan Associates and I look forward to generating profitable underwriting opportunities to expand its client base and underwriting portfolio in Europe and Asia,” stated Mr. Kattan. “Our relationship combines the skilled underwriting and execution of Greenlight Re with the deep client knowledge and relationships of Kattan Associates.”
Prior to forming Kattan Associates Limited, Mr. Kattan was the Group Head of Ceded Reinsurance and Credit Control at Tokio Marine Kiln, a leading London market insurance and reinsurance company.
This news release contains forward-looking statements within the meaning of the U.S. federal securities laws. We intend 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 our annual report on Form 10-K filed with the Securities 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.
About Greenlight Capital Re, Ltd.
Greenlight Re (www.greenlightre.ky) is a specialist property and casualty reinsurance company based in the Cayman Islands and Ireland. 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.
Source:Greenlight Capital Re