Investments help offset cat losses at Greenlight Re

Total return reinsurer Greenlight Re reported a $19.9mn net
profit for the third quarter despite taking a $37.9mn hit from
natural catastrophes that sent the carrier to an underwriting
loss.
Profits were a third less than the $30mn Greenlight reported
this time last year and were driven by the Grand Cayman-based
company's investment division.
The total return reinsurer's net investment income stood at
$64mn for the quarter, almost double the $32.9mn it reported this
time last year.
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