Bermuda-based Arch Capital Group Ltd., along with investment partners Kelso & Company and Warburg Pincus, announced the completion of the previously disclosed acquisition of Watford Holdings Ltd.
Watford and Arch originally announced the signing of a definitive merger agreement on Nov. 2, 2020, through an affiliated entity of which Arch owns approximately 40%, and funds managed by Kelso and Warburg Pincus each own approximately 30%.
“We are excited to complete this transaction, which will now allow our partners and Arch to move forward with the next chapter for Watford,” said Maamoun Rajeh, chairman and CEO of Arch Worldwide Reinsurance Group. “We believe that the market conditions are ideal for us to develop the franchise and execute a strategy for Watford’s long-term success. I want to thank the teams on all sides for their dedication to successfully completing this transaction.”
About Arch Capital Group Ltd.
A publicly listed Bermuda exempted company with approximately $15.8 billion in capital at March 31, 2021, Arch Capital Group provides insurance, reinsurance and mortgage insurance on a worldwide basis.
Source: Arch Capital Group
Related:
- Arch Capital to Buy Watford for $700M in Cash, with Support from Former Rival Enstar
- Arch Capital Bests Enstar with Offer to Acquire Watford for $622 Million
- Enstar Offers to Purchase Watford Holdings for $620 Million
- Activist Shareholder Urges Watford Holdings to Sell Itself, or Be Put Into Runoff
Topics Mergers & Acquisitions
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