Greenlight Reinsurance’s Financial Strength Upgraded by AM Best Amidst Stock Underperformance’
GRAND CAYMAN, Cayman Islands, Nov. 13, 2025’ In a significant development for Greenlight Capital Re, Ltd. (NASDAQ: GLRE), AM Best has announced an upgrade in the Financial Strength Rating for two of its key subsidiaries. Greenlight Reinsurance, Ltd. based in the Cayman Islands, and Greenlight Reinsurance Ireland, DAC, saw their ratings raised to A (Excellent) from A- (Excellent). This positive reassessment reflects strong financial health and stability for both entities.
The rating agency also upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to ’a’ (Excellent) from ’a-’ (Excellent) for these subsidiaries. In tandem, AM Best upgraded Greenlight Capital Re’s Long-Term ICR to bbb (Good) from bbb- (Good). Alongside these upgrades, the outlook for all these ratings has been adjusted to stable from positive, indicating confidence in the company’s ongoing financial trajectory.
Despite these positive announcements regarding its credit ratings, Greenlight Capital Re shares have encountered a rough patch on the stock market. Over the past week, the company’s shares have lagged behind, underperforming when compared to both its customers and suppliers, whose shares showed a modest decline of 0.6% for the week. Furthermore, the company’s stock has trailed in performance relative to the CSIMarkets index, which tracks its competitors and alternatives.
Throughout the month, Greenlight Capital Re’s shares have also lagged behind the market’s overall performance, raising concerns among investors and market analysts. This divergence between the company’s strong financial backing as evidenced by AM Best’s upgrades and its market performance poses a curious contradiction for stakeholders.
As Greenlight Capital Re navigates this challenging market phase, the recent credit rating upgrades provide a silver lining, emphasizing the company’s robust financial foundation. These developments come as the company continues to strategize for future growth and stability within the reinsurance sector.
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