Greenlight Re Put on Negative Watch

Could a downgrade could spell the end of David Einhorn’s permanent capital vehicle?

Illustration by II

Illustration by II

David Einhorn’s Greenlight Capital Re has been put on negative watch by AM Best, the rating agency for insurance companies, meaning that it may lower the reinsurer’s credit rating.

Greenlight Re serves as a permanent capital vehicle for Einhorn’s Greenlight Capital, accounting for about $600 million of the $2.5

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