AM Best Upgrades Financial Strength Rating of Greenlight Reinsurance, Ltd. and Greenlight Reinsurance Ireland, DAC to “A” (Excellent)

Core Insights - Greenlight Capital Re, Ltd. has received an upgrade in its Financial Strength Rating to "A" from "A-" and the Long-Term Issuer Credit Rating to "a" from "a-" for its subsidiaries, reflecting strong financial health and operational performance [1][2] - The ratings upgrade is attributed to the company's strong balance sheet, adequate operating performance, neutral business profile, and effective enterprise risk management [2] - The company's CEO highlighted the achievement as a recognition of the progress made in transforming the underwriting portfolio and the strength of the long-term strategy, alongside record quarterly underwriting performance [2] Financial Ratings - AM Best upgraded the Financial Strength Rating of Greenlight Reinsurance, Ltd. and Greenlight Reinsurance Ireland, DAC to "A" (Excellent) from "A-" (Excellent) [1] - The Long-Term Issuer Credit Rating for the company was upgraded to "a" (Excellent) from "a-" (Excellent) [1] - The Long-Term Issuer Credit Rating for the company was also upgraded to "bbb" (Good) from "bbb-" (Good) [1] Company Overview - Greenlight Re provides multiline property and casualty insurance and reinsurance through its licensed entities in the Cayman Islands and Ireland, as well as its Lloyd's platform [4] - The company employs a non-traditional investment approach aimed at achieving higher long-term returns compared to traditional reinsurance investment strategies [4] - The Greenlight Re Innovations unit supports technology innovators in the (re)insurance sector by providing investment capital, risk capacity, and access to a broad insurance network [4]