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Greenlight Re pulls back from some catastrophe retrocession accounts

May 13, 2014 - 6:00am

Greenlight Capital Re Ltd. has withdrawn from some of its catastrophe retrocession operations in 2014 amid low pricing and competition, reports

The Cayman Islands-domiciled reinsurer's CEO Bart Hedges said that while its property catastrophe retrocession business continues to post a good performance, high levels of competition have left the reinsurer unable to build on this book.

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