Bermuda
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The Bermudian is expecting to pay $17mn in third quarter Covid-19 claims. -
Vantage Insurance has also been assigned an initial long-term issuer credit assessment of a-.
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The hedge fund reinsurer’s board has decided the offer could represent a "superior proposal".
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The hedge fund reinsurer offered to merge with Sirius in May 2018, before the company’s listing on the Nasdaq exchange.
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Backing comes from industrial investor Ajay Kumar through his family office.
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The thwarted bidder accuses Watford’s board of neglecting their duties and threatens legal action.
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Valérie Baucher leaves the reinsurer after seven years.
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The ratings action follows the agreement with Arch Capital to buy the struggling company.
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The expansive broker continues to upsize its team in London following the appointment of Dominic Riley.
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Watford is liable for a $18.6mn fee if the Arch deal is terminated.
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Anson Aguiar becomes CUO of the just-launched Pallas Reinsurance.
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Axis, RenRe, Arch and Everest Re trade roughly in line with the S&P 500.
