Insight and Intelligence on the London & International Insurance Markets

21 May 2012

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Greenlight renews retro book with 15% rate increases

22 February 2012

Hedge fund-owned reinsurer Greenlight Capital Re renewed its property catastrophe retrocession book at rates that rose 15 percent at 1.1, despite competition from new non-traditional players in the market.

Speaking on a call with analysts after reporting strong Q4 profits, Greenlight Re CEO Bart Hedges said the firm is cautiously optimistic that rates in the commercial lines it writes are slowly hardening.

Hedges said the firm was happy with its renewals despite competing with new entrants to the retro market...

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