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Morristown, NJ 07962-1988. This press release relates to Credit Ratings that have been published on AM Bests website. +1 908 439 2200, ext. Please enable it to use the full functionality of the web site. We use cookies to give you the best experience on our website. Watford Insurance Company Europe Limited (WICE) is a subsidiary of Somers Group Holdings Ltd. and a Gibraltar-based insurance company providing capacity to clients across Europe and the UK. In 2015, Watford established insurance operations in Europe and the United States to provide specialty products and solutions to an expanded client base. Each entity is registered with Legal Entity Identifier (LEI), entity name, status, address, etc. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Negative rating actions could occur if Watfords operating performance is weak or inconsistent, if the company experiences large underwriting or investing losses or if risk-adjusted capitalization becomes strained. If you are seeking to file a claim against a Watford Insured, questions about a current claim, or to report a claim directly to Watford, please contact us via the following: . Go Legal Entity Identifier (LEI) details Registered By London Stock Exchange LEI Limited Assignment Date 2015-08-26 00:00:00 UTC Record Last Update 2022-06-29 14:25:13 UTC Next Renewal Date For information on the proper media use of Bests Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Bests Credit Ratings and AM Best Rating Action Press Releases. Somers Re is a privately held global property and casualty insurance and reinsurance company with operations in Bermuda, the United States, and Europe. AM Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Ratings of" a-" of Somers Re Ltd. and its subsidiaries: Watford Insurance Company Europe Limited . Red Sands Insurance Company (Europe) Limited is registered in Gibraltar Reg. View additional news, reports and products for this company. To Submit News go to - https://www.ambest.com/bestweek/submitnews.html, Guide for Media - Proper Use of Bests Credit Ratings and AM Best Rating Action Press Releases, Bests News: AM Best Says Title Insurers Post Solid Results Amid Volatile Landscape, Insurers and Corporations Pared Head Counts Amid Artificial Intelligence Adoption, Survey Finds, Saga Breaks Off Talks With Australian Insurtech Over Potential Acromas Deal, Desjardins Completes $551.8 Million Deal for Three Guardian Life Subsidiaries, IGI President: Growth Looks Good in Reinsurance and Short-Tail Lines, AM Best: Title Insurers Post Solid Results Amid Volatile Landscape, Hurricane Ian Losses Push United Insurance Holdings to Bigger Loss in Fourth Quarter, Nationwide Annual Net Operating Income Falls by Half to $1.4 Billion, R&Q in Talks With Regulators to Liquidate Reinsurance Operation, Update: Insurtech Root Fires Chief Financial Officer, James River CEO: Carrier Suspending Casualty Reinsurance Business as Profit Improvement Continues, State Farm Posts $6.7 Billion Annual Net Loss as Incurred Auto Losses Climb Nearly 40%, Berkshire Hathaway CEO: Geico Policies-in-Force Declined by 1.7 Million in 2022, Embattled Insurance Executive Lindberg Indicted in Alleged $2 Billion Scheme, RMS Estimates $5 Billion in Insured Losses From Turkey Earthquakes, Liberty Mutual CEO: Insurer Poised to Capitalize on Market Conditions Following Aggressive Rate, Underwriting Actions, Ian, Net Underwriting Losses Erode Policyholder Surplus, Send UPC Into Receivership, Brookfields $1.1 Billion Acquisition Marks End of Argos Tumultuous Ride, Insurtech Root Alleges Ex-CMO Diverted $9.4 Million to Himself, Bests News: AM Best Says Changes in the Crypto Market Are Mirrored in Ransomware Activity, Donegal CEO: Commercial Lines Retention Strong but New Business Falls Short as Rates Rise, AM Best Affirms Credit Ratings of Somers Re Ltd. and Its Subsidiaries, AM Best Assigns Credit Ratings to Axeria IARD, AM Best Removes From Under Review With Negative Implications; Affirms Credit Ratings of Watford Re Ltd. and Its Subsidiaries, AM Best Maintains Under Review With Negative Implications Status for Credit Ratings of Watford Re Ltd. and Its Subsidiaries, Arch, Investment Partners Complete Acquisition of Watford Holdings. Based on AM Best's analysis, 033495 - R&Q Insurance Holdings Ltd is the AMB Ultimate Parent and identifies
Director Registered office: Level 3 Ocean Village Business Centre, 23 Ocean Village Promenade, Gibraltar. Required fields are marked *. AM Best expects to resolve the under review with negative implications status when Watfords risk-adjusted capitalization is restored back to its prior level. Watford Holdings Ltd. is a global property and casualty insurance and reinsurance company with approximately $1.1 billion in capital as of September 30, 2020, comprised of: $172.6 million of senior notes, $52.4 million of contingently redeemable preference shares a Read More Contact Who is Watford Holdings Headquarters h@>:x=aV=QW3E%]St
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g:*/e_Ml DT C Arch Capital Group Ltd. [NASDAQ: ACGL], alongside investment partners Warburg Pincus and Kelso & Company (Kelso), today announced that Watford Holdings Ltd. and Watford Re Ltd. have been renamed Somers Group Holdings Ltd. (Somers Group) and Somers Re Ltd. (Somers Re), respectively. I am also pleased to remain engaged with our long-term partner, Highbridge Principal Strategies, as our primary investment manager., Cunningham stated, I am looking forward to continuing the work with our founding sponsor Arch and welcoming the new Warburg Pincus and Kelso board members to Somers Re. Bests News & Research Service - October 18, 2016 03:14 PM (EDT). The firm has more than $67 billion in private equity assets under management. You can find out more about which cookies we are using or switch them off in settings. Between 2012 and 2021, the number of people owning. AM Best will evaluate on an ongoing basis Watfords risk-adjusted capitalization and invested asset valuations as updated information becomes available. Further actions could be taken if the ratings agency believes Watfords financial strength has continued to decay or it has not stabilized in a reasonable amount of time. . Marketing Intern. Skip to main content. Under Review Best's Rating, Disclosure Information Form
The agency also removed from under review with negative implications and downgraded the financial strength ratings to A- (Excellent) from A (Excellent) and the long-term issuer credit ratings to "a-" from "a" of AmTrust Financial Services subsidiaries AmTrust Captive Solutions Ltd., AmTrust Europe Ltd., AmTrust Insurance Co. of Kansas Inc . Please do not leave any private information here. Since 1980, Kelso has invested approximately $15 billion of equity capital in over 130 transactions. Director, Communications KBRA also affirmed the issuer rating of BBB+ for
Regional Banks 4Q 2022 Update: Solid Performance Amid Economic Uncertainty Emerging Markets Issuance Faces Another Lackluster Year European CMBS Faces Crunch . :. OLDWICK, N.J., November 18, 2022--AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "a-" (Excellent) of Somers Re Ltd. (Bermuda) and its subsidiaries: Watford Insurance Company Europe Limited (Gibraltar); Watford Insurance Company (New Jersey); Watford Specialty Insurance Company (New Jersey); and Axeria IARD (France . |
On July 2, 2021, Watford Holdings Ltd. was acquired by Arch Capital Group Ltd. (40%) and funds managed by Kelso & Company (30%) and Warburg Pincus (30%). Please enable it to use
Services (UK) of an Overseas Firm. AM Best has provided ratings & analysis on this company since 2018. AM Best Places Credit Ratings of Randall & Quilter Investment Holdings Ltd. and Its Rated Subsidiaries Under Review: Nov 11, 2021: AM Best Affirms Credit Ratings of Randall & Quilter Investment Holdings Ltd. and Its Subsidiaries: Dec 03, 2020: AM Best Assigns Credit Ratings to Accredited Specialty Insurance Company: Oct 15, 2020 In addition, A.M. Best has affirmed the Long-Term ICR of bbb- and the Long-Term Issue Credit Ratings of bb on the $225 million 8.5% cumulative preference shares of Watford Holdings Ltd. (Bermuda). Watford is aglobaltotal return (re)insurer that
Founded in 1966, Warburg Pincus has raised 20 private equity funds, which have invested more than $97 billion in over 960 companies in more than 40 countries. Oldwick //BestWire// - A.M. Best has assigned a Financial Strength Rating (FSR) of A- (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of a- to Watford Insurance Company (WIC) (Morristown, NJ). The overall Somers Group platform with insurance and reinsurance capabilities in Bermuda, U.S. and Europe has a unique value proposition and is well positioned to deliver bespoke solutions and meaningful capacity to our clients around the world., Steve Dutton, Partner at Kelso, said, Ive been very impressed with the teams ability to recognize an opportunity and then reimagine an entire business model to position the company to thrive in the coming years. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. Please click on "Show All" under Permissions to establish the current state of the entity. Thank you! Watford is a global total return (re)insurer that combines medium- to long-tail casualty risks with an investment strategy focused on noninvestment grade corporate credit fixed-income assets to generate attractive operating returns. Watford Insurance Company Europe Limited. Fidelis Underwriting Limited. +1 908 439 2200, ext. John Rathgeber Director. Ad - Leaderboard - Pinnacle Actuarial Resources
Additionally, A.M. Best has stress-tested risk-adjusted capitalization for simultaneous adverse underwriting and investment events and Watford appears to be adequately capitalized under those conditions. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Bests Recent Rating Activity web page. ALL RIGHTS RESERVED.
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