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Watford Holdings Ltd.

No Longer Reporting

The company has not filed an annual or quarterly report since its Q1 FY2021 10-Q, filed May 10, 2021. Its latest SEC filing is a 15-12B/A from Jul 23, 2021.

The sections below describe the company as of the FY2020 annual report.

What Did They Do?

Writes property and casualty insurance and reinsurance, including specialty and casualty coverage, for ceding insurers and commercial and personal insurance customers.

How Did They Make Money?

Earns premiums by writing property and casualty insurance and reinsurance, and earns investment income through interest, trading gains and increases in asset value.

revenue

Who Were Their Customers?

Ceding companies and program managers bring insurance and reinsurance business; U.S. insurance is distributed through program managers, and European personal and commercial insurance through coinsurance relationships and specialized agents.

Did Revenues Turn Into Profits?

Yes. It kept 10 cents of every revenue dollar as net income in .

Net income,
10% of revenue
▲ +4% vs ($62.5M, 9%)

How Were They Changing?

Since the FY2020 annual report
Latest quarter: Q1 FY2021, the three months to Mar 31, 2021
Revenue
▲ Now profitable
vs −$122.5M in Q1 FY2020
Net income
▲ Now profitable
vs −$266.6M in Q1 FY2020
  • Jul 8, 2021 A new CEO took office following the merger Jonathan Levy became CEO, and Robert Hawley was reappointed CFO.
  • Jul 2, 2021 Watford completed its merger and became a wholly owned subsidiary Common shares were converted into cash, and Watford requested their removal from Nasdaq.
  • Apr 12, 2021 Watford completed its purchase of French insurer Axeria IARD Watford acquired all of Axeria's capital stock from the APRIL Group.

Grew. Revenue grew 11% in 3 years, from $607.6M in to $676.4M in , about 4% a year.

Who Did They Compete With?

Competes with Aspen Insurance Holdings, AXIS Capital Holdings, Berkshire Hathaway, Chubb, Everest Re Group, Fairfax Financial Holdings, Greenlight Capital Re, Hannover Rückversicherung, Lloyd’s, Markel, Munich Re Group, PartnerRe, RenaissanceRe Holdings, Third Point Reinsurance, Transatlantic Reinsurance, and AXA XL

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