Greenlight Reinsurance, Ltd.

Hello and welcome to the GreenLight Capital Re limited 2023 fourth quarter and full year financial results conference call and webcast. If anyone should require operator assistance, please press star zero on your telephone keypad. A question and answer session will follow the formal presentation. You may be placed into question queue at any time by pressing star one on your telephone keypad. At this time, I'd like to turn the call over to David Sigman, GreenLight Re's general counsel. You may begin.

Thank you, Kevin, and good morning. I would like to remind you that this conference call is being recorded and will be available for replay following conclusion of the event. An audio replay will also be available under the Investors section of the company's website at www.greenlightree.com. Joining us on the call today will be our Chief Executive Officer, Greg Richardson, Chairman of the Board, David Einhorn, Chief Financial Officer, Farmars Romer, and Chief Executive Officer of GreenLight Re Ireland, Pat O'Brien. On behalf of the company, I'd like to remind you that forward-looking statements may be made during this call and are intended to be covered by the safe harbor provisions of the federal securities laws. These forward-looking statements reflect the company's current expectations, estimates, and predictions about future results and are subject to risks and uncertainties. As a result, actual results may differ materially from those expressed or implied. For more information on the risks and other factors that may impact future performance, investors should review the periodic reports that are filed by the company with the SEC from time to time. Additionally, management may refer to certain non-GAAP financial measures. The reconciliations to these measures can be found in the company's filings with the including the company's recently filed Form 10-K for the year ended December 31st, 2023. The company undertakes no obligation to publicly update or revise any forward-looking statements. With that, it is now my pleasure to turn the call over to Greg.

Thanks, David. Good morning, everyone, and thank you for joining us today. This is my first earnings call since appointment as CEO of Greenlight REIT, effective January 1st of this year. I'm delighted to have the opportunity to engage with our investors and I look forward to meeting you in time. My first eight weeks have been busy. I'd like to share some of my initial impressions. First, GreenLight Re is in good shape and with exciting prospects. Our 2023 financial results are strong and we will talk more about those later. I'm based full-time at our home office in Grand Cayman, and I've been able to visit our offices in Dublin and London. So I've had the chance to meet everyone in the company and to get to know most of them. Greenlight Re has a high-quality team that is very engaged and motivated. Together with senior colleagues in January and February, we met with senior brokers and key clients in London and Bermuda. There's a positive perception of GreenLight Re and its role in the reinsurance marketplace. Our underwriting portfolio is highly diversified with a focus on short tail exposures. Over the recent years, we have been underweight in both property catastrophe and longer tail cash three lines. This has served us well by avoiding some of the challenges our peers have encountered with large cat losses over several years, and material deterioration in industry casualty reserves during 2023. Finally, I've spent time getting to know our innovations team. GreenLight Re innovations is a key part of our overall strategy. We have built a strong position in early stage insurtech space. Our model of capital and capacity, along with a dedicated team of experts, is truly differentiating us in this space. Turning to our results, GreenLight Reap performed well in 2023, and Q4 in particular. We reported a combined ratio of 91.4% for the quarter, our fifth consecutive quarter of underwriting profitability. We reported a 94.5% combined ratio for the full year, our best performance since 2009, and we delivered a strong 16.8% growth in book value per share. Now I'd like to turn the call over to David Einhorn.