Greenlight Re Innovations (GRI) – part of Greenlight Capital – is to establish an InsurTech focused syndicate to support its growing portfolio of InsurTechs.
Greenlight Re provides multi-line property and casualty reinsurance through its licensed and regulated reinsurance entities in the Cayman Islands and Ireland.
Syndicate 3456, which will commence operations in the second quarter of 2022, will be established under the innovative “Syndicate-in-a-box” (SIAB) model. It will be managed by Asta, the leading third-party managing agent at Lloyd’s.
The Company will appoint Andy Gladwin, who joined Greenlight Re in November 2020 as managing director of Greenlight Re marketing, as active underwriter.
Simon Burton, CEO at Greenlight Re, said, “GRI’s support of insurance innovators is a key element of Greenlight Re’s strategy. By combining Greenlight Re’s knowledge of and access to early stage InsurTechs with Lloyd’s reputation, licensing, and rating, we aim to create a market-leading InsurTech syndicate which can generate strong underwriting returns.”
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