Monthly Archives: August 2016

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…