OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best has commented that the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” of Greenlight Reinsurance, Ltd. (Greenlight Re) (Cayman Islands) and its affiliate, Greenlight Reinsurance Ireland, Designated Activity Company (Ireland), are unaffected by the recent announcement regarding the appointment of Simon Burton as the new chief executive officer (CEO) of Greenlight Capital Re, Ltd. Furthermore, the Long-Term ICR of “bbb-” of Greenlight Capital Re, Ltd. (Cayman Islands)(NASDAQ:GLRE) remains unaffected since the last rating review. The outlook of these Credit Ratings (ratings) remains stable.
A.M. Best acknowledges Mr. Burton’s extensive industry experience and proven track record in the re(insurance) sector.
A.M. Best does not foresee any immediate rating pressures as a result of this change and will continue to closely monitor Greenlight Re, as the day-to-day management of the company begins the transition from Leonard Goldberg, the interim CEO, to Mr. Burton.
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