Greenlight Re’s second quarter earnings report highlights challenges to capacity and claims reserves.
For all the anxiety over surging global inflation, it has knock-on effects that are likely to be positive for risk management in general, as well as for some insurers in particular. That insight, as well as other perspectives on coverage and pricing, were notable from the quarterly earnings reported by Greenlight Re.
“Our second-quarter performance was strong,” said Simon Burton, chief executive officer. “Our underwriting combined ratio was 91.6%, a significant improvement compared to our performance the past couple of years.”
An important driving factor in that performance was the completion in January of a “major repositioning of the underwriting book,” Burton emphasized. “Although we faced some headwinds as our auto exposure has rolled off, the result this quarter more closely reflects our underwriting potential. We see the potential for further upside in underwriting performance.”
David Einhorn, chairman of the board, added, “We had a successful quarter in…
