Greenlight Reinsurance Ireland, a subsidiary of Greenlight Capital Re has named Caryl Traynor as general manager and operating from the company's Dublin office.

Traynor appointment will be effective from 1 June 2012, and he will be responsible for recruiting experienced staff and building the business in the UK and Europe, said the firm.

Greenlight Capital Re chief executive officer Bart Hedges said an immediate focus will be to identify and recruit qualified staff to build our team and better position us to serve the needs of clients as the firm pursues opportunities in the reinsurance marketplace.

"We see many avenues for growth in Europe created by changing market conditions, Solvency II and other imposed capital constraints," Hedges added.

Before accepting the current role, Traynor was working with Canopius Group as chief executive officer of Canopius Ireland for the past four years.

He was looking to set up an office in Ireland and creating a market profile and presence in a market segment where the company had not previously participated.

Prior to Canopius, Traynor acted as a director at GE Insurance Solutions/Swiss Re, where he managed reinsurance business in the London, Europe, the US and Bermuda region.