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Greenlight Capital Re posts 4Q profit

GRAND CAYMAN, Cayman Islands (AP) _ Greenlight Capital Re Ltd. (GLRE) on Wednesday reported fourth-quarter net income of $49.2 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Grand Cayman, Cayman Islands-based company said it had net income of $1.31.

The property and casualty reinsurance service provider posted revenue of $188.7 million in the period.

For the year, the company reported net income of $44.9 million, or $1.20 per share, swinging to a profit in the period. Revenue was reported as $588.4 million.

Greenlight Capital Re shares have climbed 2 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $23.30, an increase of 16 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GLRE at https://www.zacks.com/ap/GLRE

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Keywords: Greenlight Capital Re, Earnings Report