GREENLIGHT CAPITAL RE, LTD. FILES (8-K) Disclosing Entry into a Material Definitive Agreement, Financial Statements and Exhibits - Insurance News | InsuranceNewsNet

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December 21, 2022 Newswires
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GREENLIGHT CAPITAL RE, LTD. FILES (8-K) Disclosing Entry into a Material Definitive Agreement, Financial Statements and Exhibits

Edgar Glimpses

Item 1.01 Entry into a Material Definitive Agreement.
Amendment No. 1 to the Second Amended and Restated Exempted Limited Partnership
Agreement

On December 15, 2022, Greenlight Reinsurance, Ltd. ("Greenlight Re") and
Greenlight Reinsurance Ireland, Designated Activity Company ("GRIL"), each a
wholly owned subsidiary of Greenlight Capital Re, Ltd. (the "Registrant" and,
together with Greenlight Re and GRIL, "GLRE"), the Registrant (for limited
purposes) and DME Advisors II, LLC (together with GLRE, the "Parties"), general
partner of Solasglas Investments, LP ("SILP"), executed that certain Amendment
No. 1 (the "Amendment") to the Second Amended and Restated Exempted Limited
Partnership Agreement, dated as of January 7, 2021 and effective as of January
1, 2021
(the "Second Restated Agreement"). Capitalized terms used herein and not
otherwise defined have the meanings ascribed thereto in the Second Restated
Agreement, as amended.

The Amendment amends and restates in its entirety the defined term "Additional
Investment Ratio" to mean a ratio where (x) the numerator is the product of (a)
0.60 (the "Investment Cap") multiplied by (b) the GLRE Surplus, and (y) the
denominator is the sum of the Capital Account of each of Greenlight Re and GRIL,
effective as of January 1, 2023.

The foregoing summary of the Amendment does not purport to be complete and is
qualified in its entirety to the Amendment, a copy of which is attached as
Exhibit 10.1 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.                Description of Exhibit
10.1                         Amendment No. 1, dated as of December 15, 2022, to the Second Amended
                           and Restated Exempted Limited Partnership Agreement of Solasglas
                           Investments, LP, between DME Advisors II, LLC, as General Partner,
                           Greenlight Reinsurance, Ltd., Greenlight Reinsurance Ireland, Designated
                           Activity Company, Greenlight Capital Re, Ltd. and the initial limited
                           partner, dated as of January 7, 2021 and effective as of January 1,
                           2021.


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