On July 2, 2021, Watford Holdings Ltd. was acquired by Arch Capital Group Ltd. (40%) and funds managed by Kelso & Company (30%) and Warburg Pincus (30%). On Nov. 4, 2021, Watford Holdings Ltd. changed its name to Somers Group Holdings Ltd.
Insurance through Specialty
PRODUCTS AND BESPOKE SOLUTIONS
Global Insurance Underwriting Operations
Somers Group has established insurance operations in Europe and the United States to provide specialty products and solutions to an expanded client base.
Axeria IARD was acquired by Somers Group Holdings Ltd. in April of 2021. Based in Lyon, France, Axeria is known for creative solutions and client focus.
Watford Insurance Company Europe Limited (WICE) is a subsidiary of Somers Group Holdings Ltd. and a Gibraltar-based insurance company providing capacity to clients across Europe and the UK. WICE has earned an “A- (Excellent)” rating from A.M. Best. In addition, WICE is rated “A” by Kroll Bond Rating Agency as a member of Somers Group Holdings Ltd.
WICE was founded to engage in long term relationships in Coinsurance, Managing General Agency, Program Administrator, and other insurance partnerships.
Somers Group Holdings Ltd. subsidiary Watford U.S., includes Watford Specialty Insurance Company (WSIC), a New Jersey domiciled excess and surplus lines carrier and Watford Insurance Company (WIC), a New Jersey domiciled admitted carrier.
The Watford U.S. companies write business through a select network of Program Administrator/Managing General Agent partners to create unique insurance products by developing specific underwriting guidelines, authorities and procedures. Both WSIC and WIC are registered with the NAIC and carry an A- (Excellent) rating, Financial Size Category XII ($1 Billion to $1.25 Billion) by A.M. Best.