secwatch.observer — SEC 8-K summary
======================================

Issuer:     GREENLIGHT CAPITAL RE, LTD. (GLRE)
CIK:        0001385613
Form:       8-K
Filed at:   2023-11-08T23:59:59+00:00
Accession:  0001385613-23-000115
Event type: leadership
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1385613/000138561323000115/0001385613-23-000115-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1385613/000138561323000115/glre-20231103.htm
  HTML page:      https://secwatch.observer/filing/0001385613-23-000115

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer