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Greenlight Re CEO to retire, new CEO named

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GRAND CAYMAN, Cayman Islands—Greenlight Capital Re Ltd. said Monday that CEO Len Goldberg will retire Aug. 15 and be succeeded by Bart Hedges, the reinsurer’s president and chief underwriting officer.

Mr. Goldberg has been CEO and a director at Greenlight Re since August 2005 and will remain an active member on the board.

“I have made a personal decision to return to the U.S. to spend more time with my family,” Mr. Goldberg said in a statement. “I intend to continue to have a significant interest in Greenlight Re, and I am committed to a seamless transition.”

25 years of experience

Mr. Hedges, who joined Greenlight Re in January 2006 as president and chief underwriting officer, has 25 years of experience in the property/casualty insurance and reinsurance industry.

The Cayman Islands-based company, which specializes in property/casualty reinsurance, launched in November 2005 with $220 million in funding from hedge fund Greenlight Captial Inc. In a May 2007 initial public offering of stock, Greenlight Re raised $258 million.

“We are very grateful to Len for his outstanding contributions in driving Greenlight Re’s development to date,” board Chairman David Einhorn said in the statement.

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