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Arch wraps up $622mn Watford acquisition

2nd July 2021 - Author: Charlie Wood

Arch Capital Group has officially wrapped its $622 million acquisition of Watford Holdings, roughly eight months after first signing a merger agreement.

ArchArch and investment partners Kelso and Warburg Pincus pursued the merger agreement through an affiliated entity of which Arch owns approximately 40%, and funds managed by Kelso and Warburg Pincus each own approximately 30%.

News of this deal first came just a few days after it was reported that Enstar Group Limited had asked Watford to enter into a non-disclosure agreement to let it begin due diligence on a potential acquisition.

That came after Enstar delivered a letter to the Board of Directors of Watford Re indicating its desire to acquire all of the company’s outstanding shares.

“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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