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Cayman Islands-based Greenlight Capital Re, a specialist property and casualty reinsurer,has appointed John H. Drake, Jr. as Vice President, Business Development. He will be responsible for maintaining productive client and broker relationships while also identifying attractive new business opportunities, andwill be based at the Companys headquarters in the Cayman Islands.

Brendan Barry, Chief Underwriting Officer at Greenlight Re, welcomed Drake to the company, noting his experience and a deep understanding of our industry from his years in underwriting, and his established relationships and appreciation for the role of business development in a customer-centric reinsurance company.

Drake has more than 20 years of insurance industry experience and a background that includes underwriting, sales and marketing. He joins Greenlight Re from Swiss Re Corporate Solutions, where he was most recently Vice President, Sales Force Effectiveness Team, and previously served as Vice President, Marketing for Swiss Re Underwriters Agency, Inc.

The bulletin stated that during his time with Swiss Re, Drake developed and maintained broad property & casualty reinsurance broker relationships, and generated new business opportunities across all business lines. He previously held underwriting management positions at OneBeacon Professional Partners, HartRe Company, and Chubb Specialty Insurance.

Drake is a Chartered Property Casualty Underwriter (CPCU) and Associate of Reinsurance (ARe). He also holds a Bachelors Degree from Union College, and is an MBA candidate at Babson Colleges F.W. Olin Graduate School of Business.

Source: Greenlight Re

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Greenlight Re Appoints Drake as VP-Business Development

GRAND CAYMAN, Cayman Islands, May 14, 2012 (GLOBE NEWSWIRE) -- Greenlight Capital Re, Ltd. (Nasdaq:GLRE - News), a specialist property and casualty reinsurer, today announced the appointment of John H. Drake, Jr. as Vice President, Business Development. He will be responsible for maintaining productive client and broker relationships while also identifying attractive new business opportunities.

"We are delighted to welcome John to our team as he has the right experience and a deep understanding of our industry from his years in underwriting," said Brendan Barry, Chief Underwriting Officer at Greenlight Re. "With his established relationships and appreciation for the role of business development in a customer-centric reinsurance company, John will help Greenlight Re continue to partner successfully with our clients and the broker community." He will be based at the Company's headquarters in the Cayman Islands.

Mr. Drake brings more than 20 years of insurance industry experience to Greenlight Re, and a background that includes underwriting, sales and marketing. He joins the Company from Swiss Re Corporate Solutions, where he was most recently Vice President, Sales Force Effectiveness Team, and previously served as Vice President, Marketing for Swiss Re Underwriters Agency, Inc. During his time with Swiss Re, Mr. Drake developed and maintained broad property & casualty reinsurance broker relationships, and generated new business opportunities across all business lines. Mr. Drake previously held underwriting management positions at OneBeacon Professional Partners, HartRe Company, and Chubb Specialty Insurance.

Mr. Drake is a Chartered Property Casualty Underwriter (CPCU) and Associate of Reinsurance (ARe). He also holds a Bachelors Degree from Union College, and is an MBA candidate at Babson College's F.W. Olin Graduate School of Business.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the U.S. federal securities laws. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. Federal securities laws. These statements involve risks and uncertainties that could cause actual results to differ materially from those contained in forward-looking statements made on behalf of the Company. These risks and uncertainties include the impact of general economic conditions and conditions affecting the insurance and reinsurance industry, the adequacy of our reserves, our ability to assess underwriting risk, trends in rates for property and casualty insurance and reinsurance, competition, investment market fluctuations, trends in insured and paid losses, catastrophes, regulatory and legal uncertainties and other factors described in our annual report on Form 10-K filed with the Securities Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About Greenlight Capital Re, Ltd.

Greenlight Re (www.greenlightre.ky) is a specialist property and casualty reinsurance company based in the Cayman Islands and Ireland. The Company provides a variety of custom-tailored reinsurance solutions to the insurance, risk retention group, captive and financial marketplaces. Established in 2004, Greenlight Re selectively offers customized reinsurance solutions in markets where capacity and alternatives are limited. With a focus on deriving superior returns from both sides of the balance sheet, Greenlight Re's assets are managed according to a value-oriented equity-focused strategy that complements the Company's business goal of long-term growth in book value per share.

The Greenlight Capital Re logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5571

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Greenlight Capital Re Appoints Drake as Vice President, Business Development

15 May 2012

Cayman Finance has welcomed the results of an independent study which places the Cayman Islands among only two offshore territories which have consistently implemented internationally-accepted standards on identity verification during due diligence processes.

Richard Coles Chairman of Cayman Finance, the promotional agency for the islands' financial services industry, noted that the study, carried out by Professor Jason Sharman of Griffith University in Australia, confirms what Cayman Islands officials and industry have been saying all along: that the Cayman Islands is one of the most diligent jurisdictions in the world when it comes to the fight against money laundering and financing of terrorism.

It is certainly refreshing to see the positive results of an independent study after the investment that the Cayman Islands has made - from both an industry as well as government perspective - in enhancing its regulatory framework over the past 15 years, Coles said.

Coles lamented the fact, however, that awareness of the high standards upheld in the Cayman Islands is unfortunately still lacking across the wider international community which seems to be dominated more by stories which perpetuate the old image of offshore being less regulated.

The study showed that the corporate service providers in the Cayman Islands were top of the table of over 183 countries because they required a full suite of identification documentation. The Isle of Man and the Cayman Islands were the only two jurisdictions that had a perfect compliance record, according to the results of the study.

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Cayman Regulatory Framework Endorsed

15 May 2012

The Cayman Islands government has sought to bolster business relations with Brazilian investors by taking part in the recent Brazil Investment Summit.

The government said the event presented the opportunity to hold meetings with private equity and institutional investors and provide valuable insight into how the Cayman Islands is perceived internationally, and what policy makers could do to maximize the territory's potential to act as a conduit to investment flows to Brazil.

During the visit, meetings were held with members of Brazil's private sector, key industry associations, including the Brazilian Alternative Investment Managers Association, and representatives from the Portuguese and American Chambers of Commerce.

A team from the government hosted a booth at the summit to offer information on the financial services products being offered from the islands, including in the maritime and aviation spheres.

Welcoming the success of the event, Cayman Premier and Minister for Finance, Tourism and Development, McKeeva Bush, stated: The government has given the Ministry of Finance a mandate to focus energies on emerging economies such as Brazil. Our private sector has long established strong links with Brazil. It is important that we do our part to ensure that the Cayman Islands service providers remain the service providers of choice for the facilitation of Brazilian investment flows.

The Cayman Islands is one of the top five jurisdictions in the world for investment in and out of Brazil, according to 2010 data from the International Monetary Fund. Dr Dax Basdeo of the Cayman Islands Ministry of Finance said that inward portfolio and direct investment flows amount to USD27bn annually, while outward flows amount to nearly USD40bn.

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Cayman Islands Target Brazilian Investors

GRAND CAYMAN (Cayman Islands): World 100m champion Yohan Blake ran the years secondfastest time on Wednesday, winning the Cayman Invitational in 9.84 in an early tuneup for the London Olympics.

Only Usain Bolt Blakes training partner in their home country Jamaica has run faster this year. Bolt won a meet in Kingston in 9.82 on Saturday.

Blake won last years 100m at the world championships after Bolt was disqualified for a false start. The two arent expected to square off in the 100m until Jamaicas Olympic trials at the end of June, and barring something unexpected, they should be the favourites in London.

Im very pleased with my time, Blake said. In fact, it has put me ahead in my preparations for London. Im looking forward to my next race.

His next race is on June 9 in New York. Bolt, meanwhile, will race on May 31 at a Diamond League meet in Rome.

Finishing second on Wednesday was another Jamaican, Michael Frater, who crossed in 10.05. Keston Bledman of Trinidad and Tobago (10.06) finished third.

In the womens 100m, American world champion Carmelita Jeter won in 11.04, beating Jeneba Tarmoh by 0.09 seconds.

Jamaicas Warren Weir won the mens 200m with a 20.13 finish. Chris Brown of the Bahamas was the mens 400m winner in 45.14, with Jamaicas Novelene Williams-Mills taking the womens 400m gold medal in 50.35.

Meanwhile, Cubas Olympic hurdles champion Dayron Robles will race in the United States for the first time next month, athletics sources said on Wednesday.

The 25yearold, who also holds the 110m hurdles world record, will race in both the June 2 Prefontaine Classic in Eugene, Oregon and the June 9 Adidas Grand Prix in New York City, the sources said.

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Blake blazes to year’s second-fastest time