updated 1/13/2011 5:17:07 PM ET 2011-01-13T22:17:07

GRAND CAYMAN, Cayman Islands, Jan. 13, 2011 (GLOBE NEWSWIRE) -- Greenlight Capital Re, Ltd. (Nasdaq:GLRE), a multi-line broker market property and casualty reinsurance company with a partnership approach to underwriting, today announced the appointment of Jim Ehman as Vice President and Senior Underwriter. Greenlight Re said the appointment of Ehman will further enhance the company's client service delivery and underwriting capabilities.

Ehman joins Greenlight Re from Swiss Re America where for the past three years he was head of Structured ReInsurance Solutions (SRIS) for broker produced business.  As a member of the Swiss Re Underwriters' senior management team, Ehman was responsible for the development of the SRIS unit, including business and product strategic planning and marketing, as well as structuring, underwriting and negotiating key transactions, and project management among collaborative deal teams.  Previously Ehman was a Senior Vice President for SRIS products in the Americas sold through Swiss Re's broker distribution channel with responsibility for structuring, underwriting, negotiating and marketing of reinsurance solutions to reinsurance brokers for insurance and reinsurance clients.  Ehman's past experience includes serving as Vice President and Chief Financial Officer of Underwriters Reinsurance Company in Barbados, Senior Manager in charge of audit, accounting and tax with Deloitte & Touche in Barbados, and positions with Coopers & Lybrand in Antigua and Canada. 

"We are delighted to welcome Jim to our team," said Bart Hedges, President and Chief Underwriting Officer of Greenlight Re.  "He is recognized in the market for his skills as an underwriter and leader, qualities that will complement our existing team. We also value his proven ability to focus on the needs of clients and deliver real solutions."

"I am excited to join a dynamic team of experienced professionals who are focused on creating long-term partnerships and delivering industry leading client service," Ehman said.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the U.S. federal securities laws. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. Federal securities laws. These statements involve risks and uncertainties that could cause actual results to differ materially from those contained in forward-looking statements made on behalf of the Company. These risks and uncertainties include the impact of general economic conditions and conditions affecting the insurance and reinsurance industry, the adequacy of our reserves, our ability to assess underwriting risk, trends in rates for property and casualty insurance and reinsurance, competition, investment market fluctuations, trends in insured and paid losses, catastrophes, regulatory and legal uncertainties and other factors described in our annual report on Form 10- K filed with the Securities Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About Greenlight Capital Re, Ltd.

Greenlight Re ( www.greenlightre.ky ) is a specialty property and casualty reinsurance company based in the Cayman Islands with offices in George Town, Grand Cayman and Dublin, Ireland. The Company provides a variety of custom-tailored reinsurance solutions to the insurance, risk retention group, captive and financial marketplaces. Established in 2004, Greenlight Re selectively offers customized reinsurance solutions in markets where capacity and alternatives are limited. With a focus on deriving superior returns from both sides of the balance sheet, Greenlight Re's assets are managed according to a value oriented equity-focused strategy that complements the Company's business goal of long-term growth in book value per share.

The Greenlight Capital Re logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5571

CONTACT: Alex Stanton
         Stanton Public Relations and Marketing
         (212) 780-0701
         astanton@stantonprm.com

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

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