Bermuda domiciled insurance and reinsurance company Watford Holdings Ltd. has announced that Jonathan Levy will succeed John Rathgeber as its Chief Executive Officer (CEO), following Rathgeber’s retirement on March 31, 2020.
Going forward, Rathgeber will remain a member of Watford’s board of directors and serve as a senior advisor to the company.
Levy currently serves as Watford’s President, having joined the company during its inception in 2014 as Chief Risk Officer.
Previously, he served as Chief Pricing Actuary of Insurance for Endurance Specialty Holdings Ltd., prior to which he was a Senior Consultant at Tillinghast Towers Perrin.
“On behalf of the board, I want to extend a sincere thank you to John for his accomplishments as CEO,” said Walter L. Harris, Chairman of the Board of Watford.
“He has guided the Company from its formation, navigated through challenging markets and ultimately spearheaded Watford’s entry into the public markets. I’m pleased we will continue to benefit from his insights and perspectives through his roles on the board and as an advisor to the Company.”
“I am extremely pleased to turn over the reins to Jon, an immensely talented individual,” added Rathgeber. “I’m proud of what Watford has accomplished to-date and feel privileged to have helped establish a company with such a unique and powerful business model.
“I look forward to making further contributions to Watford’s success as an engaged board member.”
Levy also commented: “I’m excited about the future of Watford and grateful for the opportunity to lead the Company. I’d like to thank John for his sage leadership over the past six years. It will be my mandate to build upon the foundation that John has helped create.
“I look forward to working with our board, strong management team and business partners, Arch and HPS, to ensure Watford delivers long term value to its clients, employees and shareholders.”
Watford recently released its results for 2019, which saw the company fall to an underwriting loss of $54.1 million, partly due to loss reserve strengthening in US casualty reinsurance in the fourth quarter.
