Arch

Could Arch-Watford be a good enough deal for Enstar too?

In other circumstances Arch’s $31.10 agreed offer for Watford Holdings might look like the start of a saga. But while Enstar may yet counter, the interwovenness of Arch and the total return reinsurer it founded means the 0.8x deal on the table may satisfy more parties than the initial noise suggests.

Bobman says Arch-Watford move is “pathetic” as market awaits Enstar response

The agreed offer by Arch for Watford Holdings of $31.10 a share has been described by activist investor Ron Bobman of Capital Returns as “pathetic”, while the 10 cents a share premium to Enstar’s indicative bid last week means the focus is now on the next move from the live-to-legacy player.

Arch agrees to acquire Watford in $622mn all-cash deal

Arch Capital has agreed a deal to acquire Watford Holdings for $31.10 per common share – just 10 cents higher than the indicative offer from Enstar last week – in an all-cash transaction that values the Bermudian at $622mn.

Federal panel centralises Arch and Markel ski pass insurance cases into two MDLs

The Judicial Panel on Multidistrict Litigation has ruled that lawsuits filed against Arch and Markel-owned United Specialty Insurance Company (USIC) seeking payment of ski pass insurance losses from Covid-19 can be combined into two insurer-specific proceedings.

Enstar offer sends Watford Re shares up 26%, Bobman calls for Arch response

Watford Holdings’ shares surged on Thursday after Enstar revealed it had made a $31.00 per share offer for the Bermudian reinsurer, while activist investor Ron Bobman has urged Arch to either waive its contracts with Watford or make a higher offer for it.

Under spotlight UK insurers respond to High Court BI judgement

The UK’s insurance industry has broadly responded positively to the UK’s High Court ruling in favour of policyholders on the majority of key issues, providing estimates for additional Covid-19 business interruption (BI) claims.

Analysis: FCA verdict tilts in favour of policyholders as High Court rejects insurers’ Covid-19 stance

The UK’s High Court decision in the FCA’s business interruption test case on Covid-19 claims found largely in favour of policyholders and clarified that the Covid-19 pandemic and the subsequent government lockdowns were to be regarded as a single cause of the covered loss, in contrast to recent legal interpretation of multiple loss causes.

Watford activist investor ‘disappointed’ at rumored Arch bid as share price surges 41%

Watford Holdings shares are up 41 percent in early trading this morning after a Reuters report suggested that a consortium led by Arch Capital Group has made an offer of around $500mn to buy the total return reinsurer.

Arch Capital-led consortium in $500mn bid for Watford: reports

A consortium led by Arch Capital Group has made an offer of approximately $500mn to acquire reinsurer Watford Holdings, according to Reuters.

Arch MI secures $449mn of reinsurance coverage through new Bellemeade deal

Arch Mortgage Insurance Company has completed its second mortgage insurance linked note (MILN) transaction of the year, securing more than $449mn of reinsurance through Bellemeade Re 2020-2.

Arch and RenRe founder Stanard compete in Ariel Re sale process

Arch, former RenRe CEO and TigerRisk chairman James “Jim” Stanard and at least one participant in the legacy space are involved in the shortlisted, Morgan Stanley-run sale process for Argo’s Ariel Re business, The Insurer can reveal.

Arch share price rises on MI outperformance

Arch Capital management have provided a rosier outlook for its mortgage insurance (MI) business than in the previous quarter, with investors responding favourably to the Bermudian (re)insurer’s Q2 results.

Arch Q2 beats as cat losses come in at low end of guidance

Arch Capital has reported after-tax operating income of $16.6mn for the second quarter, down from $317.4mn in the prior period, with catastrophe losses of $207.2mn coming in at the low end of a pre-announced range.

Arch looks to QBE and Chubb to bolster Australian A&H unit

Arch Insurance Australia has named Melissa Ahern and Simon Reid as senior underwriters within its accident & health (A&H) division with immediate effect.

Arch notes FCA’s ‘misreading’ of crucial policy extension

The Financial Conduct Authority has “singularly failed” to provide a rule of law that the government-mandated lockdown triggers an Arch policy extension under scrutiny in its test case into disputed business interruption wordings, the High Court heard today.

Arch names SVP of ceded reinsurance

Arch Insurance International has promoted Krista Bonneau to the position of senior vice president of ceded reinsurance, effective immediately.

Covid-19 SMEs claim Arch paid out on policies disputed by Hiscox

Arch Insurance paid Covid-19 BI claims on the same Hiscox policy wordings which the latter has disputed liability, according to the legal arguments of one of the policyholder action groups ahead of the FCA-led test case which begins next week.

Arch estimates up to $225mn Q2 cat losses

Arch Capital has estimated pre-tax net catastrophe losses of $205mn to $225mn across its property casualty insurance and reinsurance segments in the second quarter, including $170mn to $180mn for Covid-19 claims.

Topsail Re continues Chicago office build out with another Arch Re hire

Topsail Re has continued its recent recruitment drive and has once again made a hire from Arch Re as it further builds out its Chicago-based operation, The Insurer can reveal.

Arch MI obtains $528mn of reinsurance cover through latest Bellemeade

Arch Mortgage Insurance Company has secured $528mn of indemnity cover on a pool of some $44bn of mortgages that includes the latest iteration of the Bellemeade Re insurance-linked notes as well as direct reinsurance.

Region

Topics

Events & Conferences

Content Types