Greenlight Capital Re
Greenlight Re Ireland Appoints Traynor as General Manager

Greenlight Capital Re 

12.03.2012 11:00
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DUBLIN, Ireland, 2012-03-12 11:00 CET (GLOBE NEWSWIRE) -- Greenlight
Reinsurance Ireland, Ltd., a subsidiary of Greenlight Capital Re, Ltd.
(Nasdaq:GLRE), a specialist property and casualty reinsurer, today announced
the appointment of Caryl J. Traynor as General Manager effective June 1, 2012.
Mr. Traynor will help drive the growth and expansion of Greenlight Re Ireland,
working from the company's Dublin office, to build the business in the United
Kingdom and across Europe and recruit experienced staff. 

'Caryl is an important addition in our effort to expand Greenlight Re Ireland
and realize opportunities to build long term reinsurance relationships during
this challenging time for European markets,' said Bart Hedges, Chief Executive
Officer of Greenlight Capital Re. 'We believe his extensive management and
underwriting experience in the European market during a variety of market
cycles makes him the right person to lead our operation.' 

'I am very excited to be joining the Greenlight Re team and I look forward to
the challenge of continuing to establish the presence of Greenlight Re Ireland
and to executing the company's strategy of developing long term reinsurance
relationships with partners in the UK and Europe,' Mr. Traynor stated.
'Greenlight Re Ireland is in a strong position, and I see many opportunities
for growth in the UK and European markets. I look forward to finding ways to
take advantage of those opportunities to grow our business.' 

Subject to customary regulatory approvals, Mr. Traynor will join Greenlight Re
Ireland from the Canopius Group, where he served as Chief Executive Officer of
Canopius Ireland Limited for the past four years. In his previous role, he was
responsible for establishing a new office in Ireland and creating a market
profile and presence in a market segment where the company had not previously
participated. Prior to that, Mr. Traynor was a Director at GE Insurance
Solutions/Swiss Re where he underwrote reinsurance business in the London,
Europe, U.S. and Bermuda markets. He has previously held various management and
underwriting positions at Aachen Management Services, Enan & Co/EW Blanch and
QBE Europe. He holds degrees as an Associate of Reinsurance (ARe), Associate of
the Chartered Insurance Institute (ACII) and a BA in Insurance Specialization
from the University of Limerick. 

Mr. Traynor will lead the growth of the Greenlight Re Ireland platform in
conjunction with David Maguire, who had been Interim General Manager and will
now focus on the underwriting business. 

Forward-Looking Statements

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. 

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


         CONTACT: Alex Stanton
         Stanton Public Relations & Marketing
         (212) 780-0701
         astanton@stantonprm.com
News Source: NASDAQ OMX



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Language:     English
Company:      Greenlight Capital Re
              
               
              Cayman Islands
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         KYG4095J1094
WKN:          
 
End of Announcement                             DGAP News-Service
 
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