Arch bullish on Watford's next chapter as it wraps up $700m deal

Bermuda-based re/insurer  Arch Capital Group believes the market conditions are ideal to move forward with the next chapter for Watford Holdings, as it completes the $700 million takeover of the global specialty re/insurer.

Watford and Arch originally entered into a definitive merger agreement in November 2020, through an affiliated entity of which Arch owns approximately 40 percent, and funds managed by Kelso & Company and Warburg Pincus each own approximately 30 percent.

Arch revised its initial offer of approximately $622 million for an increased price of $35 per share, ultimately valuing Watford at approximately $700 million.

“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.”

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