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Director, Communications OLDWICK, N.J., November 18, 2022--AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "a-" (Excellent) of Somers Re Ltd . PDF Watford Insurance - Business Choice Direct Watford Insurance Company (Europe) Limited will serve UK . Posted Today. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. |. Liz and Sioned bring fresh perspectives and strong leadership to the company, while maintaining institutional knowledge and continuity from their time in Watford. Thank You! Motor insurance Somerset Bridge Watford Insurance Company Europe Limited, Alwyn Insurance Company Limited and Southern . Partially offsetting these positive rating factors are the inherent risks associated with a start-up company and the risks associated with a leveraged alternative investment strategy. | Gibraltar, Copyright 2023 Our principal operating companies incorporated in Bermuda are: (i) Somers Group Holdings Ltd. and (ii) Somers Re Ltd. Our principal operating company in Europe is Watford Insurance Company Europe Limited, a company incorporated in Gibraltar (Registered Number 112869 and Registered Office: PO Box 1338, First Floor, Grand Ocean Plaza, Ocean . PDF Watford Specialty Insurance Company 15824 - elany.org Nature of business (SIC) }W+R1X\86}} >GP7omBmP,`]{. Atlantic Suites AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. returns. Watford Insurance Company (Europe) Limited Export contact Insurer GC Code UK Insurer Code UK-515 Contact informations 1st Floor Ocean Village Gibraltar Gibraltar United Kingdom WICEclaims@watfordre.com 00350 200 74570 Export list Claims representatives Export list Correspondents This site uses cookies to enhance your user experience. Axeria is an established insurer in the French market and adds additional capabilities to Somers suite of insurance products and managing general agencies (MGA) strategy. https://www.businesswire.com/news/home/20211104005760/en/. Private limited Company Incorporated on 26 July 2017. 3rd Floor, Development House St Anne Street. You are . Red Sands Insurance Group 709360. After seven years operating under the Watford name, reestablishing the company as Somers Re marks a new chapter for the franchise, said Maamoun Rajeh, Chairman and CEO of Archs Worldwide Reinsurance Group and a member of the Board of Somers Holdings. OLDWICK, N.J.-- ( BUSINESS WIRE )-- AM Best has commented that the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "a-" of Watford Re. Box 1950 Morristown, NJ 07962-1950. WICE Policy Wording Page 3 of 36 Information about Your Policy documents Your Commercial Vehicle insurance contract is made up of: a Gibraltar-domiciled insurance company (the "Company") and. . KBRA also affirmed the issuer rating of BBB+ for Working alongside other Quantity Surveyors and Senior Management , Providing reports, Monitoring costs, managing key accounts and building relationships with new clients, monthly reviews, and analyzing data. Additionally, A.M. Best has stress-tested risk-adjusted capitalization for simultaneous adverse underwriting and investment events and Watford appears to be adequately capitalized under those conditions. AM Best Comments on Credit Ratings of Watford Re Ltd. and Its Keeping these cookies enabled helps us to improve our website and display content that is more relevant to you and your interests. Customer Account manager Job Watford England UK,Customer Service/HelpDesk Morristown, NJ 07962-1988. AM Best Maintains Under Review With Negative Implications Status for AM Best will evaluate on an ongoing basis Watfords risk-adjusted capitalization and invested asset valuations as updated information becomes available. About Us Watford Group's underwriting subsidiaries, including Watford Insurance, have earned "A-" (Excellent) Financial strength rating from AM Best . The outlook for all ratings We are looking for an experienced accountant/bookkeeper, confident with accounting softwares and Microsoft 365. What Is a Fronting Arrangement and Why Do Captive Insurers Use Them? Services (UK) of an Overseas Firm. The ratings reflect Watford's balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. Europort Avenue Arch Relaunches Watford Re As Somers Re - Bernews | To ensure the most secure and best overall experience on our website, we recommend the latest versions of, Guide to Proper Use of Bests Ratings & Assessments. Watford is a total return global re/insurer that combines underwriting medium- to long-tail casualty risks with an investment strategy focused on noninvestment grade credit assets to generate attractive operating returns. Additionally, KBRA affirms the rating of BBB- for Watford Holdings' Watford Re and its underwriting subsidiaries have earned an "A- (Excellent)" financial strength rating from A.M. Best Company and an "A" rating from Kroll Bond Rating Agency. AM Best Removes From Under Review With Negative Implications, Affirms Credit Ratings of R&Q Insurance Hldgs Ltd. and Rated Subs 0 We believe that Somers Re is uniquely qualified to augment its position with its clients and counterparties and look forward to leveraging our expertise and capabilities to support the firm in this next chapter.. In addition, AM Best has affirmed the Long-Term ICR of "bbb-" and the Long-Term Issue Credit Rating of "bb" on the $225 million 8.5% cumulative preference shares of Watford Holdings Ltd . . AM Best Affirms Credit Ratings of Somers Re Ltd. and Its Subsidiaries Where an Insurer has chosen not to be assessed, they do not receive a rating and therefore are classed as "Unrated." To Submit News go to - https://www.ambest.com/bestweek/submitnews.html, Bests News: AM Best Says Title Insurers Post Solid Results Amid Volatile Landscape, Insurers and Corporations Pared Head Counts Amid Artificial Intelligence Adoption, Survey Finds, Saga Breaks Off Talks With Australian Insurtech Over Potential Acromas Deal, Desjardins Completes $551.8 Million Deal for Three Guardian Life Subsidiaries, IGI President: Growth Looks Good in Reinsurance and Short-Tail Lines, AM Best: Title Insurers Post Solid Results Amid Volatile Landscape, Hurricane Ian Losses Push United Insurance Holdings to Bigger Loss in Fourth Quarter, Nationwide Annual Net Operating Income Falls by Half to $1.4 Billion, R&Q in Talks With Regulators to Liquidate Reinsurance Operation, Update: Insurtech Root Fires Chief Financial Officer, James River CEO: Carrier Suspending Casualty Reinsurance Business as Profit Improvement Continues, State Farm Posts $6.7 Billion Annual Net Loss as Incurred Auto Losses Climb Nearly 40%, Berkshire Hathaway CEO: Geico Policies-in-Force Declined by 1.7 Million in 2022, Embattled Insurance Executive Lindberg Indicted in Alleged $2 Billion Scheme, RMS Estimates $5 Billion in Insured Losses From Turkey Earthquakes, Liberty Mutual CEO: Insurer Poised to Capitalize on Market Conditions Following Aggressive Rate, Underwriting Actions, Ian, Net Underwriting Losses Erode Policyholder Surplus, Send UPC Into Receivership, Brookfields $1.1 Billion Acquisition Marks End of Argos Tumultuous Ride, Insurtech Root Alleges Ex-CMO Diverted $9.4 Million to Himself, Bests News: AM Best Says Changes in the Crypto Market Are Mirrored in Ransomware Activity, Donegal CEO: Commercial Lines Retention Strong but New Business Falls Short as Rates Rise, Arch Capital Fourth-Quarter Attributable Net Income Rises 38.6%, AM Best Affirms Credit Ratings of Somers Re Ltd. and Its Subsidiaries, Arch CEO: Insurance Industry Should Have Charged More for Cat Risk, Looks to Hardening as Opportunity, Arch Capital: Cat Losses up to $560 Million Will Negatively Impact Third-Quarter Results, Coalition Launches Cyber Reinsurer Ferian Re With $300 Million in Capital. WICE has earned an A- (Excellent) rating from A.M. Best. Company reviews. Copyright 2021 by A.M. Best Rating Services, Inc. and/or its affiliates. 5165 Watford's ratings are based on its strong risk-adjusted capitalization; experienced underwriting led by Arch Underwriters Ltd. and Arch Underwriters Inc., wholly owned subsidiaries of Arch Capital Group Ltd.; leading investment acumen of HPS Investment Partners, LLC (HPS); and Watford's broad-based business plan. There are several high-profile international ratings agencies, who assess the financial stability of insurers and other financial institutions. WATFORD INTERNATIONAL LIMITED overview - Find and update company The following links provide access to related data records that AM Best utilizes to provide financial and analytical data on a consolidated or branch basis. the full functionality of the web site. Somers Re Ltd., the groups flagship reinsurer, is focused on delivering flexible, creative solutions to clients worldwide. AMB #: 033495 - R&Q Insurance Holdings Ltd, AM Best Removes From Under Review With Negative Implications, Affirms Credit Ratings of R&Q Insurance Hldgs Ltd. and Rated Subs, AM Best Revises Under Review Status to Negative for Credit Ratings of Randall & Quilter Investment Hldgs Ltd. and Its Rated Subs, AM Best Places Credit Ratings of Randall & Quilter Investment Holdings Ltd. and Its Rated Subsidiaries Under Review, AM Best Affirms Credit Ratings of Randall & Quilter Investment Holdings Ltd. and Its Subsidiaries, AM Best Assigns Credit Ratings to Accredited Specialty Insurance Company, AM Best Affirms Credit Ratings of Randall & Quilter Investment Holdings Ltd. and Its Members. Title: Watford Specialty Insurance Company 15824 Author: The Excess Line Association of New York Subject: Financial Summary Keywords: Watford Specialty Insurance Company 15824,Foreign Insurer Report New York,AM Best Rating,S&P Rating, Total Assets, Policyholders Surplus,Net Income, Premiums Written in New York, NY, ELANY,Excess Line I nsurance The most well known are Standard & Poor's, Moody's, Fitch and A.M. Best. Somerset Bridge Group Senior Financial Analyst hTkLSg~5"zPY`J]B p;>Mqf#"[ %0n[\1F6[\;>~' V_y`[i8SZOf/ ;j>))g.9B~u!5YiU'e.AL)%Y))DS1[:MJQO$HHe^{'+XA!.y#C)-v=h..J5\34rOmHt`JkSQhwor7yoSOU#ra;Ll?l1W`|$]r?v]:}R- Key Concepts for New Captive Board Members, A Primer on Governance Models for Captives, A Captive Insurer Template for Corporate Governance Standards, For Captive Owners, There's No Transferring Governance Responsibility, 12 Key Considerations When Picking a Captive, KBRA: Bermuda Business Environment Fosters (Re)Insurance Innovation, KBRA Releases Rating Report for Watford, an Arch Partner, KBRA's Unique Global Captive Insurer Rating Methodology. new. 5087 There are several high-profile international ratings agencies, who assess the financial stability of insurers and other financial institutions. Further rating actions could be taken if AM Best believes Watfords financial strength has continued to decay or it has not stabilized in a reasonable amount of time. 75002 Paris . group financial condition report for the financial year ended 31 december 2020 issue date: 31 may 2021 . Skip to main content. +1 908 439 2200, ext. #Watford LLC Thanks to the new P-to-C business model developed by Richard Watford . Attn: Claims Dept 445 South Street, Suite 220 P.O. Hence the need to have a multilingual condidate with good communication skills. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Watfords assets are not commingled with any other HPS-managed fund. KBRA Assigns A Rating to Watford, an Arch Partner - Captive In addition, each of WSIC and WIC is rated "A" by Kroll Bond Rating Agency, similarly as members of the Watford Group. PEMBROKE, Bermuda(BUSINESS WIRE) Thank you! james.peavy@ambest.com, Internet Explorer presents a security risk. Watford Insurance Company Europe Limited. If you have privacy or any other concerns about the information on this page, please use this link to the contact form. WATFORD INSURANCE COMPANY EUROPE LIMITED (LEI# 213800RLTETCAMJ4PS30) is a legal entity registered with LONDON STOCK EXCHANGE LEI LIMITED. Pinnacle Insurance is a Top 5 UK Pet insurer with a clear ambition to be the leading Pet healthcare and insurance services partner in the UK. Please enable it to use the full functionality of the web site. In addition, AM Best has placed under review with negative implications the Long-Term ICR of bbb- and the Long-Term Issue Credit Rating of bb on the $225 million ($52 million outstanding) 8.5% cumulative preference shares of Watford Holdings Ltd. (Watford) (Bermuda), the groups ultimate holding company. I am also pleased to remain engaged with our long-term partner, Highbridge Principal Strategies, as our primary investment manager., Cunningham stated, I am looking forward to continuing the work with our founding sponsor Arch and welcoming the new Warburg Pincus and Kelso board members to Somers Re. profile, and seasoned management team. He seen a problem with something on the system and said he would call me back which he did. Search OpenCorporates for WATFORD INSURANCE COMPANY EUROPE LIMITED. Please tell us what we can do to improve this article. This Credit Rating (rating) action considers the recent announcement that Arch Capital Group Ltd. (Arch) has completed its merger agreement with Watford. Senior Highways Quantity Surveyor Job Watford England UK,Construction https://www.businesswire.com/news/home/20211104005760/en/. The underwriting insurer can often be found on your insurance documents. View additional news, reports and products for this company. The net investment loss is expected to be predominantly comprised of unrealized mark-to-market losses to Watfords non-investment grade, fixed-income portfolio. +1 908 439 2200, ext. Company (collectively referred to as Watford). Ltd ("Somers Holdings", previously Watford Holdings Ltd). Watford Specialty Insurance Company and Watford Insurance Company will serve U.S.-based customers, Watford Insurance Company (Europe) Limited will serve UK-based customers and Axeria IARD will provide capacity to clients across continental Europe. Concurrently, A.M. Best has affirmed the FSR of A- (Excellent) and the Long-Term ICRs of a- of Watford Re Ltd. (Watford) (Bermuda) and Watfords subsidiaries, Watford Insurance Company Europe Limited (WICE) (Gibraltar) and Watford Specialty Insurance Company (WSIC) (Morristown, NJ). Fraud Hotline. Axeria IARD was acquired by Somers Group Holdings Ltd. in April of 2021. November 6, 2021. Our Values We have been shortlisted for the following industry awards WINNER: Best Employer British Claims Awards 2022 Our Ratings - Allied World Watford U.S. 5159 Europe/EU-based business is underwritten by Axeria IARD. Stuart Harris - VP Agility Lead - JPMorgan Chase & Co. | LinkedIn WATFORD INSURANCE COMPANY EUROPE LIMITED - Open LEIs Minimum 24-months' cover with SEAT-Approved parts used for any repairs. View source version on businesswire.com: Watford LLC Reviews | Read Customer Service Reviews of watfordcorp.com