Greenlight Reinsurance Ireland, a subsidiary of specialist property and casualty reinsurer Greenlight Capital Re, announced Caryl J. Traynor officially joined the company on 1 June to serve as general manager. He will operate from the company’s Dublin office and is responsible for recruiting experienced staff and building the business in the United Kingdom and Europe.
“We see opportunity in the European market right now, and are pleased to have Caryl aboard to oversee the expansion of our capabilities,” said Bart Hedges, chief executive officer of Cayman-based Greenlight Capital Re. “An immediate focus will be to identify and recruit qualified staff to build our team and better position us to serve the needs of clients as we pursue opportunities in the reinsurance marketplace.”
The primary focus is developing long-term reinsurance relationships with partners in the UK and Europe, Mr. Traynor said. “We see many avenues for growth in Europe created by changing market conditions, Solvency II and other imposed capital constraints. We believe Greenlight Re Ireland is well positioned to capitalise on these opportunities,” he said.
Mr. Traynor joined 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 an 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, United States and Bermuda markets.