HVRRY - Watford Re IPOs On Nasdaq At Discount To Book Value
Watford Holdings Ltd. (WTRE), the parent company to Arch Capital and Highbridge Principal Strategies backed investment oriented or total-return style reinsurance firm Watford Re, successfully completed its initial public offering ((IPO)) on the Nasdaq.
Watford Re is a valuable component of Bermudian insurance and reinsurance firm Arch Capital's strategy to embrace third-party capital, bringing additional efficiency and income to the firms overall operations.
Backed by third-party, largely institutional investors, Watford Re follows a total-return or hedge fund like strategy.
It underwrites mid to longer-tailed, largely casualty reinsurance business with the assistance of the Arch Capital