-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 JZaDqLxMQqrEggiluoBcG4h4qJ57hrlZa9NqdZvmEQVDUNwig6mPPw5yPFiPUyf2
 c1I5jbiiFbs+nopk0pxiKg==

<SEC-DOCUMENT>0001005477-07-003174.txt : 20070524
<SEC-HEADER>0001005477-07-003174.hdr.sgml : 20070524
<ACCEPTANCE-DATETIME>20070524060219
ACCESSION NUMBER:		0001005477-07-003174
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20070523
FILED AS OF DATE:		20070524
DATE AS OF CHANGE:		20070524

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Diaz Sherry
		CENTRAL INDEX KEY:			0001399891

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33493
		FILM NUMBER:		07875257

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		(345) 745-4573

	MAIL ADDRESS:	
		STREET 1:		802 WEST BAY ROAD, THE GRAND PAVILION
		STREET 2:		P.O. BOX 31110
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-1205

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Greenlight Capital Re, Ltd.
		CENTRAL INDEX KEY:			0001385613
		STANDARD INDUSTRIAL CLASSIFICATION:	FIRE, MARINE & CASUALTY INSURANCE [6331]
		IRS NUMBER:				000000000

	BUSINESS ADDRESS:	
		STREET 1:		PO BOX 31110
		STREET 2:		802 WEST BAY ROAD
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-1205
		BUSINESS PHONE:		345 745 4573

	MAIL ADDRESS:	
		STREET 1:		PO BOX 31110
		STREET 2:		802 WEST BAY ROAD
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-1205
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>edgar123.xml
<DESCRIPTION>FORM 3
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2007-05-23</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001385613</issuerCik>
        <issuerName>Greenlight Capital Re, Ltd.</issuerName>
        <issuerTradingSymbol>GLRE</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001399891</rptOwnerCik>
            <rptOwnerName>Diaz Sherry</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>802 WEST BAY RD., THE GRAND PAVILION,</rptOwnerStreet1>
            <rptOwnerStreet2>P.O. BOX 31110</rptOwnerStreet2>
            <rptOwnerCity>GRAND CAYMAN</rptOwnerCity>
            <rptOwnerState>E9</rptOwnerState>
            <rptOwnerZipCode>KY1-1205</rptOwnerZipCode>
            <rptOwnerStateDescription>CAYMAN ISLANDS</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Controller and Secretary</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Class A Ordinary Shares</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2465</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>13.85</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2016-11-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Ordinary Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>10000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The options vest in three equal annual installments beginning on November 1, 2007.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Sherry Diaz</signatureName>
        <signatureDate>2007-05-23</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
