Earnings Call Excerpt
Greenlight Capital Re, Ltd. (GLRE)
Q3 2007 Earnings Call
November 14, 2007, 8:30 a.m. ET
Executives
David Einhorn – Chairman, Board of Directors
Len Goldberg - Chief Executive Officer
Tim Courtis - Chief Financial Officer
Bart Hedges – President and Chief Underwriting Officer
Analysts
Dean from Lehman Brothers
Presentation
Operator
Good morning everyone, and welcome to the Greenlight Capital Re’s 3rd Quarter 2007 earnings conference call. Joining us on the call this morning is David Einhorn, Chairman; Len Goldberg, Chief Executive Officer; and Bart Hedges; President and Chief Underwriting Officer, and Tim Courtis, Chief Financial Officer.
The company reminds you that forward-looking statements that may be made in this call are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical fact, but rather reflect the company’s current expectations, estimates, and predictions about future results and events and are subject to risks, uncertainties.and assumptions, including risks, uncertainties, and assumptions that are enumerated in the company’s prospectus dated May 24 2007 and other documents filed by the company with the SEC. If one or more risks or uncertainties materialize, or if the company’s underlying assumptions prove to be incorrect, actual results may vary materially from what the company projects. The company undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
I would now like to turn the call over to Mr. Len Goldberg.
Len Goldberg
Thank you for taking the time to join us this morning. David Einhorn, Chairman of the Board, will begin and briefly discuss the 3rd quarter progress at Greenlight Re. After that, Bart Hedges will discuss some details on the construction of the underwriting portfolio .today, and then Tim Courtis, our Chief Financial Officer, will review our financial performance. I will conclude with some final comments before we open up the call for questions. David?
David Einhorn
Thanks, Len. This is our second call as a public company. Since Greenlight Re?s formation, our goal has been to create a reinsurance company capable of driving long-term growth and book value per share by focusing on both sides of the balance sheet. While of course we did not wish to have a loss in our first quarter after the IPO, the results were certainly within our historical ranges in a difficult market. Overall, we have made important progress in executing against our overall business plan during the 3rd quarter and I would like to mention a few key areas.
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