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PRESS RELEASE – WATFORD SPECIALTY INSURANCE COMPANY PURCHASES ADMITTED CARRIER

Watford Specialty Insurance Company (“WSIC”) announced today it has acquired a previously-dormant insurance company that holds admitted insurance licenses in all 50 states and the District of Columbia. This carrier has been renamed Watford Insurance Company (“WIC”) and has re-domesticated to New Jersey, WSIC’s domicile state. WIC’s liabilities relating to pre-acquisition business are fully reinsured pursuant to a 100% quota share agreement with The Hanover Insurance Company, which carries financial strength ratings of A/A/A3 from A.M.Best, S&P and Moody’s, respectively. The Hanover Insurance Company is the largest insurer in a group of affiliated companies that collectively has over $3.8 billion in capital. The Hanover Insurance Company will…

PRESS RELEASE – WATFORD RE LTD. COMPLETES A $1.13 BILLION CAPITAL RAISE

New Bermuda-based reinsurer will combine diversified reinsurance business with a disciplined investment strategy Watford Holdings Ltd. and its wholly owned subsidiary Watford Re Ltd. (“Watford” or the “Company”), a newly formed, Bermuda-based multi-line reinsurer, announced today that Watford Re has completed a $1.13 billion capital raise. The initial capitalization comprises $907 million in common equity, including a $100 million investment by a subsidiary of Arch Capital Group Ltd. (“Arch”), and $226 million in preference shares. Watford is a Class 4 insurer licensed by the Bermuda Monetary Authority and has received a financial strength rating of A- from A.M. Best Company. Watford intends to combine a diversified reinsurance…