8-K filed November 8, 2023, 6:59 PM ET ticker GLRE CIK 0001385613

leadership confidence high sentiment positive materiality 0.80

CEO Simon Burton to depart Dec 31; Greg Richardson named successor; Q3 net income $13.5M

GREENLIGHT CAPITAL RE, LTD.

Simon Burton will step down as CEO and director effective Dec 31, 2023; Greg Richardson appointed CEO and board member effective Jan 1, 2024.
Richardson employment agreement provides $800k base salary, 100% target bonus, equity awards with 150% of salary target, and 250,000 stock options.
Burton separation includes $2.4M cash severance over 18 months, vesting of time-vesting shares, and $1.6M performance share grant in March 2024.
Q3 2023 gross premiums written increased 18.0% to $183.1M; net income of $13.5M ($0.39 diluted EPS) vs net loss of $18.5M a year ago.
Fully diluted book value per share rose 2.3% to $16.58; combined ratio improved to 91.2% from 115.4% in Q3 2022.

item 2.02 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Greg Richardson

Director

GLRE · GREENLIGHT CAPITAL RE, LTD.

Effective: 2024-01-01
Filed: November 8, 2023, 6:59 PM ET

it is contemplated that Mr. Richardson will become a member of the Registrant's board of directors on January 1, 2024.

Departed

Simon Burton

Chief Executive Officer

GLRE · GREENLIGHT CAPITAL RE, LTD.

Effective: 2023-12-31
Successor: Greg Richardson
Filed: November 8, 2023, 6:59 PM ET

Mr. Richardson will succeed Simon Burton, who is leaving the Registrant on December 31, 2023.

Appointed

Greg Richardson

Chief Executive Officer

GLRE · GREENLIGHT CAPITAL RE, LTD.

Effective: 2024-01-01
Filed: November 8, 2023, 6:59 PM ET

Greg Richardson will be appointed Chief Executive Officer effective as of January 1, 2024.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GREENLIGHT CAPITAL RE, LTD. reported the third quarter ended September 30, 2023 results: net income Net income of $13.5 million, EPS $0.39 per diluted ordinary share.

Period: the third quarter ended September 30, 2023
Net income: Net income of $13.5 million
EPS: $0.39 per diluted ordinary share
Result: reported results

Exact text from the filing

On November 8, 2023, Greenlight Capital Re, Ltd. (the "Registrant") issued a press release announcing its financial results for the third quarter and nine months ended September 30, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Greg Richardson was appointed as Director at GREENLIGHT CAPITAL RE, LTD..

Action: appointed
Role: Director

Exact text from the filing

it is contemplated that Mr. Richardson will become a member of the Registrant's board of directors on January 1, 2024.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Simon Burton departed as Chief Executive Officer at GREENLIGHT CAPITAL RE, LTD..

Action: leaving
Role: Chief Executive Officer

Exact text from the filing

Mr. Richardson will succeed Simon Burton, who is leaving the Registrant on December 31, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Greg Richardson was appointed as Chief Executive Officer at GREENLIGHT CAPITAL RE, LTD..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

Greg Richardson will be appointed Chief Executive Officer effective as of January 1, 2024.

View on SEC.gov

20 earnings releases filed in the last 30 days. Browse all earnings releases →

GREENLIGHT CAPITAL RE, LTD. filing history →

Source: SEC EDGAR

accession 0001385613-23-000115

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