Enstar
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Hessing joined the company in September to replace David Atkins, who had been with Enstar since 2003.
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The agreement follows a share-swap deal between the two companies.
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An unnamed investment manager posited a Watford bid worth about $21/share around four months before Arch’s eventual $35-per-share takeover agreement. -
The US carrier has offloaded a tranche of liability business written out of London.
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Both StarStone and Atrium make underwriting profits after losses a year earlier.
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The legacy carrier is the first to utilise a recently enacted framework in Oklahoma.
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Ron Bobman has reiterated his opposition to Watford Re’s management and fiercely criticised the deal.
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The would-be buyer presses for a non-disclosure agreement with the hedge fund reinsurer to allow due diligence to start.
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US CEO Paul Brockman will be promoted to group chief claims officer as part of the changes.
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Enstar, R&Q and Riverstone remain as the Willis-run process heads towards its conclusion.
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Watford is reportedly evaluating a bid from Arch amid heightened pressure from shareholders to pursue strategic alternatives.
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Susan Cross becomes an independent director and will serve on the company’s audit and risk committees.
