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Greenlight Capital Re invests in Texas-based 3rd-party administrator

Greenlight Capital Re Ltd. unit Greenlight Re Innovations has invested in Austin, Texas-based third-party administrator Sana Benefits.

Sana Benefits, which is focused on the self-insured health market in the U.S., started offering administrative services Sept. 1. It has a technology-enabled platform that gives small-to-medium sized businesses access to benefit plans and allows them to self-insure their employees.

The Sana Benefits transaction is Greenlight Re Innovations' second investment since its launch in March. On Sept. 28, it announced an investment in Galileo Platforms, a Hong Kong-based insurance and reinsurance platform-as-a-service business targeting emerging markets in Asia.