Greenlight Capital Re, Ltd. Announces Completion Of Strategic Review And Securities Repurchase Authorization
GRAND CAYMAN, Cayman Islands – April 2, 2020 – Greenlight Capital Re, Ltd. (Nasdaq: GLRE) (“Greenlight Re” or the “Company”), a specialist property and casualty reinsurance company headquartered in the Cayman Islands, today announced that its Board of Directors (the “Board”) has completed its review of strategic transaction alternatives. After a thorough and rigorous process conducted by the Board with the assistance of Credit Suisse Securities (USA) LLC, the Company determined that the best course of action is to continue its existing business plan. The Board, following a recommendation made by a special committee composed of independent directors, determined that at this time stockholder value is likely to be better enhanced on a standalone basis than by pursuing a transaction with a third party.
