Greenlight Capital Re, a Cayman Islands-based property and casualty reinsurance company, has established a new subsidiary in Ireland - Greenlight Reinsurance Ireland.

The company said that its new subsidiary in Ireland will provide multi line reinsurance capacity predominantly to the European broker market and will be headquartered in the international financial services centre in Dublin.

Greenlight Re Ireland will also concentrate on forming long-term partnerships with clients that are niche specialists and experts in their field.

In conjunction, Greenlight has named David Maguire as the general manager of Greenlight Re Ireland.

Previously, Maguire held management and underwriting positions at Travelers, Hannover Re, QBE and Lloyd’s of London.