Greenlight Capital Re made some major executive changes in what the company is dubbing a “refresh” of its operations.
The Cayman Islands-based specialist property and casualty reinsurance company appointed Greenlight Re’s chief executive officer, Simon Burton, to serve also as its chief underwriting officer, succeeding Brendan Barry, who resigned from the company on Sept. 4.
Additionally, Neil Greenspan has been appointed as chief financial officer, succeeding Tim Courtis, who resigned on Sept. 9. In addition, Faramarz Romer has been named chief accounting officer and treasurer.
The new appointments are effective immediately.
Burton said the executive changes were both appropriate and timely.
“I am pleased to announce this significant refresh of the management team, as we position ourselves for the rapidly improving market conditions ahead,” Burton said in prepared remarks.
Greenspan has served as chief accounting officer of the Greenlight Capital Re since Dec. 31, 2018. He has more than 20 years of reinsurance and insurance industry experience including roles as the senior vice president, financial reporting, of the Validus Group; the chief accounting officer of the Montpelier Group, and in a senior finance position at ACE Financial Solutions International.
Burton’s appointment as chief underwriting officer and Greenspan’s appointment as chief financial officer are subject to the approval of the Cayman Islands Monetary Authority and Cayman Islands Immigration Department.
Greenlight Re’s executive changes come five months after the company decided not to sell itself following a strategic review. The company moved ahead instead with its existing business plan.
Source: Greenlight Capital Re
*A version of this story ran previously in our sister publication Insurance Journal.