-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 I1s9IwIihRxZxd00sTJ285kCaG42An/JS94WSq0A2OEGThXx4+zvQVYhrsx69Sln
 3oeMbkAwxJbMyWtOIat0Og==

<SEC-DOCUMENT>0001005477-07-003286.txt : 20070525
<SEC-HEADER>0001005477-07-003286.hdr.sgml : 20070525
<ACCEPTANCE-DATETIME>20070525212707
ACCESSION NUMBER:		0001005477-07-003286
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20070524
FILED AS OF DATE:		20070525
DATE AS OF CHANGE:		20070525

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

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SIMON JEROME L
		CENTRAL INDEX KEY:			0001069471
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33493
		FILM NUMBER:		07881935

	BUSINESS ADDRESS:	
		STREET 1:		735 MONTGOMERY ST
		STREET 2:		STE 400
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94111
		BUSINESS PHONE:		4153627677

	MAIL ADDRESS:	
		STREET 1:		ONE  MARITIME PLAZA, SUITE 750
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94111
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar123.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2007-05-24</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001069471</rptOwnerCik>
            <rptOwnerName>SIMON JEROME L</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O GREENLIGHT CAPITAL RE, LTD.</rptOwnerStreet1>
            <rptOwnerStreet2>802 WEST BAY ROAD, P.O. BOX 31110</rptOwnerStreet2>
            <rptOwnerCity>GRAND CAYMAN</rptOwnerCity>
            <rptOwnerState>E9</rptOwnerState>
            <rptOwnerZipCode>KY1-1205</rptOwnerZipCode>
            <rptOwnerStateDescription>CAYMAN ISLANDS</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class A Ordinary Shares</value>
            </securityTitle>
            <transactionDate>
                <value>2007-05-24</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>2000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.00</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class A Ordinary Shares</value>
            </securityTitle>
            <transactionDate>
                <value>2007-05-24</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>40000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>19.00</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>42000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <remarks>Exhibit List
- --------------

Exhibit 24 - Confirming Statement</remarks>

    <ownerSignature>
        <signatureName>/s/ Sherry Diaz, by Power of Attorney</signatureName>
        <signatureDate>2007-05-25</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>ex-24.txt
<DESCRIPTION>CONFIRMING STATEMENT
<TEXT>
<PAGE>

                                                                      Exhibit 24

                              CONFIRMING STATEMENT

        This Statement confirms that the undersigned, Jerome L. Simon, has
authorized and designated Sherry Diaz to execute and file on the
undersigned's behalf all Forms 3, 4, and 5 (including any amendments thereto)
that the undersigned may be required to file with the U.S. Securities and
Exchange Commission as a result of the undersigned's ownership of or
transactions in securities of Greenlight Capital Re, Ltd. The authority of
Sherry Diaz under this Statement shall continue until the undersigned is no
longer required to file Forms 3, 4, and 5 with regard to his ownership of or
transactions in securities of Greenlight Capital Re, Ltd., unless earlier
revoked in writing. The undersigned acknowledges that Sherry Diaz is not
assuming any of the undersigned's responsibilities to comply with Section 16 of
the Securities Exchange Act of 1934.



Date: May 25, 2007               /s/ Jerome L. Simon
                                 --------------------
                                     Jerome L. Simon
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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