Hedges Named as CEO of Greenlight Re

Greenlight Capital Re, Ltd. (Nasdaq: GLRE) today announced that Bart Hedges has been appointed Chief Executive Officer. Mr. Hedges succeeds Len Goldberg, who, as previously announced, retired as Chief Executive Officer effective today.

Mr. Hedges, 46, joined Greenlight Re in January 2006 as President and Chief Underwriting Officer and has nearly 25 years of property and casualty insurance and reinsurance experience. In addition to his promotion to Chief Executive Officer, Mr. Hedges has been appointed to serve on the board of directors of the company and each of its operating subsidiaries, Greenlight Reinsurance, Ltd. and Greenlight Reinsurance Ireland, Ltd.

"We look forward to Greenlight Re's continued growth under Bart's leadership," said David Einhorn, Chairman of the Board of Directors of Greenlight Re. "Bart joined the company shortly after its formation and has played a critical role in establishing our reputation in the market; he demonstrates a clear commitment and compelling vision for the company."