Watford Holdings Ltd.
WTREP
NASDAQ Global Select25.09
USD
+0.03
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Watford Holdings Ltd.
WTREP
(NASDAQ Global Select)
Recent
price
25.09
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Watford Holdings Ltd. (NASDAQ: WTREP), formerly known as the parent of Watford Re Ltd., operates as a Bermuda-headquartered holding company for a global specialty property and casualty insurance and reinsurance group originally established in 2014. Through its subsidiaries, including Somers Re Ltd. (rebranded from Watford Re Ltd. in November 2021), Watford Specialty Insurance Company, Watford Insurance Company (Europe) Limited, and Axeria IARD, the company provides casualty reinsurance; property catastrophe reinsurance; other specialty reinsurance encompassing mortgage, property excluding catastrophe, marine and aviation, and additional lines; and insurance programs and coinsurance primarily in casualty, other specialty, and property sectors. Underwriting for its Bermuda-based reinsurance operations is managed by Arch Capital Group Property & Casualty subsidiaries, serving clients worldwide across the United States, United Kingdom, continental Europe, and other regions with flexible risk solutions; its insurance platforms target U.S., UK, and EU markets through specialized carriers and program managers. In a major strategic shift, Arch Capital Group Ltd. completed its acquisition of Watford Holdings in July 2021 through an affiliated entity, with investment partners Kelso & Company and Warburg Pincus each taking approximately 30% ownership alongside Arch's 40% stake, transitioning the company to private ownership and delisting its common shares from NASDAQ while maintaining the WTREP preference shares. The 2021 rebranding to Somers Group Holdings Ltd. and Somers Re Ltd. supported a repositioning from a total-return reinsurance model to a traditional approach emphasizing conservative investments and Arch's underwriting expertise, affirmed by an A- (Excellent) financial strength rating from A.M. Best and A from Kroll Bond Rating Agency. Recent developments include the 2024 acquisition of Lime Syndicate Management Holdings Limited and subsidiaries, enabling operations as a Lloyd's Managing Agent with Syndicate 3705 approved to commence underwriting effective January 1, 2025; an earlier acquisition of France-based Axeria IARD enhanced European capabilities; and leadership changes such as the appointment of John Patin as Chief Investment Officer in 2023 and Marcus Foley as Chief Risk Officer in 2024, alongside put options exercised by Warburg Pincus and Kelso for share sales expected to close in 2025. Gross premiums written grew 24% to $2.363 billion in 2024, driven by organic expansion in whole-account and quota share treaties plus European platforms.
Preferreds Market Weekly Review
Watford Intends to De-List and De-Register its Cumulative Redeemable Preference Shares (Nasdaq: WTREP) Following Merger
Watford Announces Declaration of Quarterly Dividend on Preference Shares
Watford Announces Declaration of Quarterly Dividend on Preference Shares
Watford's stock falls as Arch Capital's revised buyout bid represented a discount