Connect with us

/home/grassnews/public_html/wp-content/themes/zox-news/parts/post-single.php on line 153
">
Warning: Undefined array key 0 in /home/grassnews/public_html/wp-content/themes/zox-news/parts/post-single.php on line 153

Warning: Attempt to read property "cat_name" on null in /home/grassnews/public_html/wp-content/themes/zox-news/parts/post-single.php on line 153

AM Best Revises Outlooks to Negative for Greenlight Capital Re, Ltd. and Its Subsidiaries

Published

on

Reading Time: 2 minutes

OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has revised the outlooks to negative from stable and
affirmed the Financial Strength Rating of A- (Excellent) and the
Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” of Greenlight
Reinsurance, Ltd. (Cayman Islands) and Greenlight Reinsurance Ireland,
Designated Activity Company (Ireland). Additionally, AM Best has revised
the outlook to negative from stable and affirmed the Long-Term ICR of
“bbb-” of Greenlight Capital Re, Ltd. (Cayman Islands) (GLRE)
[NASDAQ: GLRE], the ultimate holding company.

The ratings reflect GLRE’s balance sheet strength, which AM Best
categorizes as very strong, as well as its marginal operating
performance, neutral business profile and appropriate enterprise risk
management (ERM).

The negative outlooks reflect AM Best’s concern over the company’s
business profile, owing to its track record of negative underwriting
performance, which has led to a five-year average company reported
combined ratio of 105.3% (2014-2018) and has contributed to a five-year
average return on equity of -13.3% (2014-2018). Going forward, AM Best
expects GLRE to improve its underwriting profitability. Failure to do so
may result in further negative rating actions.

GLRE’s consolidated surplus has decreased materially in recent years, to
USD 480 million as of year-end 2018 from USD 1.2 billion at year-end
2014, primarily due to the outsized losses generated by its investment
adviser. However, management has taken appropriate actions to de-risk
the balance sheet significantly, thereby reducing the potential for
volatility in the investment portfolio going forward. In the medium to
long term, AM Best expects the company to stabilize its earnings and
gradually replenish its capital position through internal capital
generation.

The rating affirmations and revised outlooks follow an accepted appeal
from the rated company in which new material information was provided
that enhanced AM Best’s opinion of the company’s risk-adjusted
capitalization and forward-looking operating performance volatility.

This press release relates to Credit Ratings that have been published
on AM Best’s website. For all rating information relating to the release
and pertinent disclosures, including details of the office responsible
for issuing each of the individual ratings referenced in this release,
please see AM Best’s
Recent
Rating Activity
web page. For additional information
regarding the use and limitations of Credit Rating opinions, please view
Understanding
Best’s Credit Ratings
. For information on the proper media
use of Best’s Credit Ratings and AM Best press releases, please view
Guide
for Media – Proper Use of Best’s Credit Ratings and AM Best Rating
Action Press Releases
.

AM Best is a global rating agency and information provider with a
unique focus on the insurance industry. Visit
www.ambest.com
for more information
.

Copyright © 2019 by A.M. Best Rating Services, Inc. and/or its
affiliates. ALL RIGHTS RESERVED.

Contacts

Filippo Novella
Financial Analyst
+1 908 439
2200, ext. 5486

[email protected]

Steven Chirico, CPA
Director
+1 908 439 2200,
ext. 5087

[email protected]

Christopher Sharkey
Manager, Public Relations
+1
908 439 2200, ext. 5159

[email protected]

Jim Peavy
Director, Public Relations
+1 908
439 2200, ext. 5644

[email protected]


Warning: Undefined array key 0 in /home/grassnews/public_html/wp-content/themes/zox-news/parts/post-single.php on line 493

Warning: Attempt to read property "cat_ID" on null in /home/grassnews/public_html/wp-content/themes/zox-news/parts/post-single.php on line 493

Humboldt

Humboldt Seed Company partners with Apollo Green to bring California cannabis genetics to the global marketplace

Published

on

humboldt-seed-company-partners-with-apollo-green-to-bring-california-cannabis-genetics-to-the-global-marketplace

Apollo Green to distribute Humboldt Seed Company clonal cannabis genetics to Germany, Portugal and Australia

SAN FRANCISCO, April 30, 2024 /PRNewswire/ — Humboldt Seed Company (HSC), California’s leading cannabis seed producer, has announced a partnership with Canadian-based Apollo Green to make eight breeder cuts available to researchers, licensed commercial cultivators and home growers in legal markets worldwide. This first-to-market clonal genetics release is a significant milestone and will expand access to distinctive, high-quality cannabis genetics in both established and emerging global markets including Germany, Portugal and Australia.

The curated, breeder-verified selection includes pioneering triploid genetics, such as OG Triploid and Donutz Triploid alongside the legendary cult classic Blueberry Muffin. Also available are All Gas OG with a THC content of 21% and four high-THC strains in the 30-35% range: Golden Sands, Guzzlerz, Jelly Donutz and Orange Creampop. These selections represent the top .01% from HSC’s extensive California pheno-hunting program.

Exports will begin in May under Apollo Green’s Canadian federal cannabis license. All shipments have Canadian phytosanitary certification, ensuring plants have been inspected, and are clean and free of pests.

“Access for all to quality genetics has been our core focus since the beginning,” said HSC Co-founder and Chief Science Officer, Benjamin Lind. “Our science-based approach to breeding aligns perfectly with Apollo Green’s high standards and we are excited to be able to extend these hand-selected cuts to a wider audience, especially at this pivotal time where we’re seeing positive regulatory changes globally.”

Oisin Tierney, Apollo Green Director of Business Development, said, “California has long been recognized for setting industry standards, and we are proud to play a role in bringing these esteemed genetics to cultivators worldwide. The triploids are especially noteworthy in terms of the unprecedented potential for enhanced plant vigor, higher yields, shorter flowering times and superior returns for solventless extraction.”

About Humboldt Seed Company

Established in 2001, Humboldt Seed Company is a Northern California heritage brand providing quality cannabis genetics to commercial cultivators and home growers in legalized states across the U.S. and international markets including Spain, Canada, Jamaica, South Africa, Colombia, France, Portugal, Greece, the UK, Malta and Thailand. With a focus on environmental and social justice, they combine traditional breeding and modern scientific practices in their strain development program. They have served the cannabis community for over two decades.

For more information visit https://humboldtseedcompany.com/.

About Apollo Green

Licensed since 2019, Apollo Green is Canada’s leader in cannabis genetics. The company’s mission is to provide an ever-growing bank of seeds and clones to medical patients and recreational consumers. Apollo Green provides clean, trusted cannabis seeds and clones, which are backed by the foremost tissue culture technology to reduce risks, costs and time-to-market for licensed producers around the world. Apollo Green is passionate about cannabis genetics. 

For more information visit https://apollogreen.com/.

Media contact
Jaana Prall
[email protected] 

Logo – https://mma.prnewswire.com/media/2328955/Humboldt_Seed_Company_Logo.jpg 

Cision View original content:https://www.prnewswire.co.uk/news-releases/humboldt-seed-company-partners-with-apollo-green-to-bring-california-cannabis-genetics-to-the-global-marketplace-302131618.html

Continue Reading

Cannabis

Technological Advancements in Breathalyzers Drive Market Growth and Enhance Road Safety

Published

on

Continue Reading

Cannabis

Bay Area Social Equity Operator Launches the Purple Raina Balm Wand 1:1, an Inclusive Multipurpose Cannabis Topical

Published

on

Continue Reading

Trending on Grassnews

GrassNews.net: Your premier portal for the latest developments in the cannabis industry. We provide timely news, insightful analysis, and in-depth features on everything from legislation changes and business trends, to scientific research and lifestyle topics. Stay informed and navigate the rapidly evolving cannabis landscape with GrassNews.net..

Contact us: [email protected]

Editorial / PR Submissions

Copyright © 2007 - 2024 Hipther Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania