Hedges new chief
at Greenlight

Cayman Islands reinsurer Greenlight Capital Re Ltd has announced that CEO Len Goldberg will retire on 15 August.

He will be succeeded by Bart Hedges, the reinsurer’s president and chief underwriting officer.

Mr. Goldberg joined Greenlight Re as a director and CEO in August 2005 and will remain an active member on the board.

“I am proud to have been involved with Greenlight Re from start-up through its evolution to the Company it is today, and now I have made a personal decision to return to the US to spend more time with my family,” said Mr. Goldberg in a statement. “I intend to continue to have a significant interest in Greenlight Re, and I am committed to a seamless transition.”

David Einhorn, chairman of the board of directors of Greenlight Re, said, “we are very grateful to Len for his outstanding contributions in driving Greenlight Re’s development to date. We understand his decision and are pleased that he will remain an important contributor to the company’s success as an active member of the board.”

Mr. Hedges, who joined Greenlight Re in January 2006 as president and chief underwriting officer, has 25 years’ experience in the property/casualty insurance and reinsurance industry.

Mr. Einhorn noted that “after five years of experience working with Bart, we know first hand that he is highly capable and prepared to lead Greenlight Re in its next stage of development.

“Bart has significant executive experience and has worked closely with Len to build the Company. This is a natural leadership transition which will serve Greenlight Re well,” Mr. Einhorn added.

Since joining Greenlight Re in January 2006 as president and chief underwriting officer, Mr. Hegdes played a key role in establishing the company in the offshore reinsurance market. “I am very excited about the opportunity to lead Greenlight Re,” said Mr. Hedges. “I firmly believe in our unique business model, which enables us to select the best opportunities for our underwriting portfolio and investment activities. Together with our talented team of professionals who share that vision, I look forward to continuing to build long-term relationships with clients and executing Greenlight Re’s strategy.”

Previously Mr. Hedges served as president and chief operating officer at Platinum Underwriters Bermuda Ltd, where he was responsible for the initial start-up and managed its day-to-day operations. Prior to that, he held executive positions at Scandinavian Reinsurance Company Bermuda Ltd.

Mr Hedges honed his actuarial analysis, client management and business development skills as an actuarial consultant with Tillinghast-Towers Perrin, and as a senior manager at Deloitte & Touche. He is a fellow of the Casualty Actuarial Society, and a member of the American Academy of Actuaries. He received a Bachelor of Science in Mathematics from Towson State University.

Mr. Hedges, who joined Greenlight Re in January 2006 as president and chief underwriting officer, has 25 years’ experience in the property/casualty insurance and reinsurance industry.

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