Greenlight Re pulls back from some catastrophe retrocession accounts

Posted On: May. 13, 2014 12:00 AM CST

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 has withdrawn from some of its catastrophe retrocession operations in 2014 amid low pricing and competition, reports Artemis.bm.

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.