Arch Capital
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Excluding Covid-19 claims, it was the company’s highest cat quarter since 3Q17.
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Watford is liable for a $18.6mn fee if the Arch deal is terminated.
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Axis, RenRe, Arch and Everest Re trade roughly in line with the S&P 500. -
The Bermudian is adding $10mn-$15mn to its Covid loss estimate as claims climb.
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The hotly anticipated judgment will be a milestone in the ongoing dispute about how carriers respond to Covid lockdown-related losses.
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Arch Capital reportedly offered to buy the business for a per-share value over 45% above yesterday’s close.
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The move by the founding shareholder follows activist investor pressure on the reinsurer.
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The regulator has argued that businesses that were never required to close during the pandemic still had their access restricted.
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Insider promoted after 10 years’ service.
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Carriers must “stop the clock” on claim time limits from today until the court outcome.
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The late July High Court hearing will also involve Arch, Argenta and QBE.
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The executive is charged with new strategies for growth.
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