---
schema_version: "secwatch.filing_event.v1"
accession: "0001385613-23-000115"
form_type: "8-K"
ticker: "GLRE"
cik: "0001385613"
company_name: "GREENLIGHT CAPITAL RE, LTD."
filed_at: "2023-11-08T23:59:59+00:00"
generated_at: "2026-06-08T08:58:17.299919+00:00"
event_type: "leadership"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001385613-23-000115
- form_type: 8-K
- ticker: GLRE
- cik: 0001385613
- company_name: GREENLIGHT CAPITAL RE, LTD.
- filed_at: 2023-11-08T23:59:59+00:00
- event_type: leadership
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1385613/000138561323000115/0001385613-23-000115-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1385613/000138561323000115/glre-20231103.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001385613-23-000115
- JSON: https://secwatch.observer/filing/0001385613-23-000115.json
- Plain text: https://secwatch.observer/filing/0001385613-23-000115.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1385613/000138561323000115/0001385613-23-000115-index.htm
- Executive change
  Greg Richardson was appointed as Director at GREENLIGHT CAPITAL RE, LTD..
  - Action: appointed
  - Role: Director
  source text: it is contemplated that Mr. Richardson will become a member of the Registrant's board of directors on January 1, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1385613/000138561323000115/0001385613-23-000115-index.htm
- Executive change
  Simon Burton departed as Chief Executive Officer at GREENLIGHT CAPITAL RE, LTD..
  - Action: leaving
  - Role: Chief Executive Officer
  source text: Mr. Richardson will succeed Simon Burton, who is leaving the Registrant on December 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1385613/000138561323000115/0001385613-23-000115-index.htm
- Executive change
  Greg Richardson was appointed as Chief Executive Officer at GREENLIGHT CAPITAL RE, LTD..
  - Action: appointed
  - Role: Chief Executive Officer
  source text: Greg Richardson will be appointed Chief Executive Officer effective as of January 1, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1385613/000138561323000115/0001385613-23-000115-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.