(Bloomberg) -- Greenlight Capital Re Ltd., the reinsurer thatcounts on hedge fund manager David Einhorn to oversee itsinvestment portfolio, plunged the most since 2010 after posting itsthird-straight unprofitable quarter on stock market losses and poorunderwriting.
Greenlight Re fell $2.07, or 8.4 percent, to $22.67 at 10:45a.m. in New York trading. That extended its slump for the year to31 percent.
The third-quarter loss widened to $219.7 million from $51.8million a year earlier, the Cayman Islands-based reinsurer said ina statement Friday after markets closed. Ratings firm A.M. Bestlowered its outlook on the company to negative from stable, a movethat could make it harder to win new business, according toGreenlight Re.
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