Cayman-based reinsurer Greenlight Capital Re has hired Simon Burton to become its new chief executive officer, effective July 1.
Mr. Burton will succeed Leonard Goldberg, who will step down as interim CEO while remaining a member of the company’s board of directors. Mr. Burton will also be appointed to the board of the specialist property and casualty reinsurer.
“Following a comprehensive search process, we identified Simon as the clear choice to bring Greenlight Re to its next phase of growth. Given his more than 20 years of insurance and reinsurance experience, and his proven track record building profitable underwriting platforms, Simon will be a terrific leader for our team,” said David Einhorn, chairman of the board of directors of Greenlight Re. “We are thrilled that Simon accepted our offer.”
Mr. Burton previously served as chief executive officer of SAC Re from its inception until its sale to Hamilton Insurance Group, where he was responsible for building the company’s global reinsurance portfolio, which supported the material growth in book value.
“I am very excited to be joining Greenlight Re and am appreciative of David and the board for this opportunity,” Mr. Burton said. “Greenlight Re has tremendous talent and an excellent platform. I am looking forward to leading the company to profitably grow the business and help maximize shareholder value over the long term.”
Before SAC Re, Mr. Burton served in a variety of roles at Lancashire Group, including deputy chief executive officer and chief executive officer of the company’s Bermuda subsidiary. In addition, Mr. Burton spent 10 years at Financial Solutions International, an underwriting division of ACE Ltd., where he rose to the role of president.