3rd Floor, Development House St Anne Street. WELWYN INSURANCE COMPANY LIMITED (Previous Legal Name, En) Business Registry Name . For more information, please visit www.somersgroup.com. You will need to pay the first 10 towards any claim (the excess). The most well known are Standard & Poor's, Moody's, Fitch and A.M. Best. Morristown, NJ 07962-1988. AM Best Places Credit Ratings of Randall & Quilter Investment Holdings Ltd. and Its Rated Subsidiaries Under Review: Nov 11, 2021: AM Best Affirms Credit Ratings of Randall & Quilter Investment Holdings Ltd. and Its Subsidiaries: Dec 03, 2020: AM Best Assigns Credit Ratings to Accredited Specialty Insurance Company: Oct 15, 2020 Insurance Company Europe Limited, Watford Specialty Insurance Company, and Watford Insurance Our Lloyd's Syndicate 2232 is rated A+ (Strong) by Standard & Poor's and AA-(Very Strong) by Fitch. Gibraltar . profile, and seasoned management team. Headquartered in Bermuda, the name Somers Re is a nod to Sir George Somers, who founded Bermuda in 1609. AM Best said these rating actions follow an announcement from Watford on April 23, 2020, which revealed its 2020 first quarter earnings include a net investment loss of approximately $300. Speaking . Under Review Best's Rating, Disclosure Information Form Please click on "Show All" under Permissions to establish the current state of the entity. June 06, 2019 Third-party cookies include performance cookies and targeted or advertising cookies. Based in Lyon, France, Axeria is known for creative solutions and client focus. Fidelis Underwriting Limited. - financial data included in Best's Credit Report reflects the data used in determining the current credit rating(s). For more information, please visit www.kelso.com. the full functionality of the web site. This web site needs javascript enabled to work properly. This website uses cookies so that we can provide you with the best user experience possible. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. If you have privacy or any other concerns about the information on this page, please use this link to the contact form. 660936. Gibraltar. Where an Insurer has chosen not to be assessed, they do not receive a rating and therefore are classed as "Unrated." AM Best will continue to evaluate Watfords balance sheet strength, operating performance and enterprise risk management to assess that it stays in line with projected amounts. Targeted or advertising cookies collect information about your browsing habits. Key Concepts for New Captive Board Members, A Primer on Governance Models for Captives, A Captive Insurer Template for Corporate Governance Standards, For Captive Owners, There's No Transferring Governance Responsibility, 12 Key Considerations When Picking a Captive, KBRA: Bermuda Business Environment Fosters (Re)Insurance Innovation, KBRA Releases Rating Report for Watford, an Arch Partner, KBRA's Unique Global Captive Insurer Rating Methodology. Our Values We have been shortlisted for the following industry awards WINNER: Best Employer British Claims Awards 2022 View source version on businesswire.com: Customer Service Rep. Salary Range or Wage: 40000 - 60000 GBP Yearly. Monthly company sales related bonus divided among the team. WATFORD INSURANCE COMPANY EUROPE LIMITED. @>x@Bi2>dE? A.M. Best is the worlds oldest and most authoritative insurance rating and information source. Watford Group's underwriting subsidiaries, including Watford Insurance, have earned "A-" (Excellent) Financial strength rating from AM Best . Watford Insurance is a 100 percent-owned subsidiary of Watford Re Ltd., a global reinsurance and insurance company. | Company number 10885613. Watford Insurance Company. Negative rating actions could occur if Watfords operating performance is weak or inconsistent, if the company experiences large underwriting or investing losses or if risk-adjusted capitalization becomes strained. The name change is part of a strategic repositioning for Somers Re as it builds on the Watford platform that was originally established in 2014 as a total return reinsurer. Further rating actions could be taken if AM Best believes Watfords financial strength has continued to decay or it has not stabilized in a reasonable amount of time. WATFORD Insurance, cu sediul in Gibraltar, are un rating "A-" acordat de catre A.M. BEST si functioneaza in Uniunea Europeana si in Marea Britanie din anul 2015. Performance cookies collect information about how you use our website, which helps us improve functionality and your user experience. Watford Group has a capitalization of USD 1.2 billion as of December 31, 2017. This means that every time you visit this website you will need to enable or disable cookies again. In 2015, Watford established insurance operations in Europe and the United States to provide specialty products and solutions to an expanded client base. Thank You! 1st Floor, Grand Ocean Plaza. AM Best will evaluate on an ongoing basis Watfords risk-adjusted capitalization and invested asset valuations as updated information becomes available. Earlier this year, the company closed its acquisition of France-based insurance company Axeria IARD. Each policy is then scored against those 48 features and assigned a rating based on a scale of 1 to 5 - so you can see at a glance how the . returns. Axeria is an established insurer in the French market and adds additional capabilities to Somers suite of insurance products and managing general agencies (MGA) strategy. hbbd```b`` "gI &d $%BL ?O_ :. Pinnacle Insurance is a Top 5 UK Pet insurer with a clear ambition to be the leading Pet healthcare and insurance services partner in the UK. noninvestment grade corporate credit fixed-income assets to generate attractive operating endstream endobj startxref AM Best Removes From Under Review With Negative Implications, Affirms Credit Ratings of R&Q Insurance Hldgs Ltd. and Rated Subs In addition, AM Best has maintained the under review with negative implications status for the Long-Term ICR of bbb- (Good) and the Long-Term Issue Credit Rating of bb (Fair) on the $225 million ($52 million outstanding) 8.5% cumulative preference shares of Watford Holdings Ltd. (Watford) (Bermuda) [NASDAQ: WTRE], the groups ultimate holding company. About Somers Group Holdings Ltd. +1 908 439 2200, ext. hU[O0+~/DBH ["LE. AM Best. Follow this company Company Overview for WATFORD INTERNATIONAL LIMITED (10885613) Filing history for WATFORD . AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. We are looking for an experienced accountant/bookkeeper, confident with accounting softwares and Microsoft 365. However, although the transaction has closed, the ultimate impact to Watford's ratings will be determined when AM Best has met with management and analyzed the group's business plans, including an analysis of future investment risk, financial projections and operating structure within the Arch group. Apollo Syndicate Management Limited. We are taking the best parts of Watford and adding new strategies and capabilities., Michael Thompson, Managing Director at Warburg Pincus, added, We are pleased to be able to partner with Arch to deliver performance for Somers Re policyholders and trading partners. No: 87598. Please enable it to use the full functionality of the web site. Car Insurance. watford insurance company europe limited rating Posted by By used sherp for sale in florida June 22, 2022 tennessee republican party state executive committee This web site needs javascript enabled to work properly. group financial condition report for the financial year ended 31 december 2020 issue date: 31 may 2021 . https://www.businesswire.com/news/home/20211104005760/en/. Oldwick //BestWire// - A.M. Best has assigned a Financial Strength Rating (FSR) of A- (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of a- to Watford Insurance Company (WIC) (Morristown, NJ). And Canada Credit Cards ABS Review History Of U.S. State Ratings U.S. State Ratings And Outlooks: Current List Credit Trends: U.S. Corporate Bond Yields As Of Feb. 22, 2023 SLIDES: U.S. WATFORD INSURANCE COMPANY EUROPE LIMITED (LEI# 213800RLTETCAMJ4PS30) is a legal entity registered with LONDON STOCK EXCHANGE LEI LIMITED. Red Sands Insurance Company (Europe) Limited is authorised and regulated by the Gibraltar Financial Services Commission and is subject to regulation by the . #Watford LLC Thanks to the new P-to-C business model developed by Richard Watford . the full functionality of the web site. In this way we receive dividends in full liability once a week, indefinitely Our Group values are voted for by our staff, embedded in our culture and reflected in the way we treat our customers: they underpin daily decision-making and shape our strategic thinking. After seven years operating under the Watford name, reestablishing the company as Somers Re marks a new chapter for the franchise, said Maamoun Rajeh, Chairman and CEO of Archs Worldwide Reinsurance Group and a member of the Board of Somers Holdings. %%EOF In addition, KBRA has affirmed the BBB+ credit rating for Watford Holdings' senior unsecured notes due 2029, and also the BBB- credit rating of the company's outstanding cumulative contingently redeemable preference shares. WATFORD INSURANCE COMPANY EUROPE LIMITED WELWYN INSURANCE COMPANY LIMITED address: FIRST FLOOR, GRAND OCEAN PLAZA, OCEAN VILLAGE, Gibraltar, GX11 1AA, GI Entity Overview Registration Authority Entity Legal Form Legal Form Code WBKH LEI Registration Entity Relationship Reporting Exceptions Office Location Entities in the same location WICs assigned ratings also recognize its strategic role to Watford and the explicit and implicit support provided by Watford. To ensure the most secure and best overall experience on our website, we recommend the latest versions of, Guide to Proper Use of Bests Ratings & Assessments. What Is a Fronting Arrangement and Why Do Captive Insurers Use Them? Kelso is one of the oldest and most established firms specializing in private equity investing. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Why Not Go Direct on Homeowners, Allstate CEO Asks, Norfolk Southern Ordered to Clean Polluted Site, AM Best Places Watford Re's Ratings Under Review on COVID-19-Related Investment Hit, Federal Court Denies Massachusetts Hospital's Covid-19 Business Insurance Claim, La. AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Ratings of" a-" of Watford Re Ltd. and its . Topics Concurrently, A.M. Best has affirmed the FSR of A- (Excellent) and the Long-Term ICRs of a- of Watford Re Ltd. (Watford) (Bermuda) and Watfords subsidiaries, Watford Insurance Company Europe Limited (WICE) (Gibraltar) and Watford Specialty Insurance Company (WSIC) (Morristown, NJ). PREMIER UNDERWRITING HOLDINGS (GIBRALTAR) LIMITED, Find all legal entities in the same postal code, CASUALTY & GENERAL INSURANCE COMPANY (EUROPE) LIMITED SUCURSAL, INSUSCANNER INSURANCE AGENCY COMPANY LIMITED, Halco Insurance Company (Bermuda) Limited, JUBILEE GENERAL INSURANCE COMPANY OF TANZANIA LIMITED, Trust International Insurance Company (Cyprus) Limited, FIRST FLOOR, GRAND OCEAN PLAZA, OCEAN VILLAGE, Gibraltar, GX11 1AA, GI, FIRST FLOOR, GRAND OCEAN PLAZA, Ocean Village, GX11 1AA, GI, FIRST FLOOR, GRAND OCEAN PLAZA, Gibraltar, GX11 1AA, GI, FIRST FLOOR, MAJESTIC OCEAN PLAZA, OCEAN VILLAGE, Gibraltar, GX11 1AA, GI, SUITE 3-3, LEISURE ISLAND BUSINESS CENTRE, LEISURE ISLAND, 23 OCEAN CILLAGE PROMENADE, Ocean Village, Gibraltar, GX11 1AA, GI, SOVEREIGN PLACE, 117 MAIN STREET, Gibraltar, GX11 1AA, GI, SUITE 4, 2ND FLOOR, THE WEST WING, MONTARIK HOUSE, 3 BEDLAM COURT, Gibraltar, GX11 1AA, GI, Madison Building, Midtown, Queensway, Gibraltar, GX11 1AA, GI, 211, NEPTUNE HOUSE, MARINA BAY, Gibraltar, GX11 1AA, GI, SUITE 211 NEPTUNE HOUSE, MARINA BAY, PO Box 300, Gibraltar, GX11 1AA, GI, 30/3 CORNWALL'S LANE, Gibraltar, GX11 1AA, GI, 5/5 CRUTCHETT'S RAMP, Gibraltar, GX11 1AA, GI, Suite 7, Hadfield House, Library Street, Gibraltar, GX11 1AA, GI, SUITE 3A CENTRE PLAZA, 2 HORSE BARRACK LANE, Main Street, GX11 1AA, GI, SUITE 1 NORTH, FIRST FLOOR, Albert House, South Esplanade, St Peter Port, GY1 1AJ, GG, 17 Rue De La Republic Marigot, Marigot, FR-MF, 97150, FR, CR Federation Drive and Goodwill Road, Goodwill, DM, 4th Floor, 22 Wellington Road, Parktown, Johannesburg, ZA-GP, 2193, ZA, Stasinou 1, Floor 2, Engkomi, Nicosia, CY-01, 2404, CY, Conyers Corporate Services, Claredon House, Hamilton, BM, Ohio Street 1008, 2, 11, Kivukoni, TZ-02, 11101, TZ, 79, Limassol Avenue, 1&3 Kosti Palama Corner, Aglantzia, Nicosia, CY-01, 2121, CY, 633 East Market Street, Harrisonburg, US-VA, 22801, US, Global Legal Entity Identifier Foundation (GLEIF). AM Best said these rating actions follow an announcement from Watford on April 23, 2020, which revealed its 2020 first quarter earnings include a net investment loss of approximately $300 million due to investment market volatility following the global economic shutdown related to the COVID-19 pandemic. PEMBROKE, Bermuda(BUSINESS WIRE) Hence the need to have a multilingual condidate with good communication skills. ALL RIGHTS RESERVED. Between 2012 and 2021, the number of people owning. Watford's guidelines that specifically limit exposure to natural catastrophes and other We are using cookies to give you the best experience on our website. Judge Mulling Further Sanctions Against Hurricane Damage Law Firm, With Rate Increases Still Pending, Lemonade Is Slowing Growth in '23, Agency Salary Survey: Employee Pay Spikes As Agency Talent Pool Shrinks, Property & Casualty Claims Adjuster Carrier or TPA REMOTE -, Insurance Operations Business Analyst REMOTE -, Experienced Property Adjuster Field Large Loss $3,000 sign on bonus -, Early Careers: Health Immersion Program Analyst (HIP) Boston 2023 -, 10 Emerging Risks & Markets to Know About, How AI Can Transform Insureds Lives in 2023, January Renewals See Hardest Property Catastrophe Reinsurance Rates in Generation, Biden's Cyber Plan Would Hold Software Makers Responsible in Hacks, Russian Airlines and Insurers Proposed Stranded Jet Settlements, AerCap Says, Sotheby's Defeats Most of Russian Billionaire's Fraud Suit, Train Derailment Probe Finds Melted Covers on Valves on 3 Cars With Chemicals, Cardinal Health, McKesson Prevail in Georgia Families' Opioid Trial, Trends in the Surplus Lines Industry 2023, Resilience for Risk and Insurance Professionals. The ratings of Watford have been extended to WICE and WSIC based on their strategic role to Watford and the explicit and implicit support provided by Watford. Search OpenCorporates for WATFORD INSURANCE COMPANY EUROPE LIMITED. Gibraltar Financial Services Commission james.peavy@ambest.com, Internet Explorer presents a security risk. Arch Capital Group Ltd., a publicly listed Bermuda exempted company with approximately $16.1 billion in capital at Sept. 30, 2021, provides insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries. These cookies dont collect information that identifies you personally as a visitor. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Bests Recent Rating Activity web page. Regional Banks 4Q 2022 Update: Solid Performance Amid Economic Uncertainty Emerging Markets Issuance Faces Another Lackluster Year European CMBS Faces Crunch . new. OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has maintained the under review with negative implications status for the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of a- (Excellent) of Watford Re Ltd. (Watford Re) (Bermuda) and its subsidiaries, Watford Insurance Company Europe Limited (WICE) (Gibraltar), Watford Insurance Company (WIC) (New Jersey) and Watford Specialty Insurance Company (WSIC) (New Jersey). Ad - Leaderboard - Pinnacle Actuarial Resources, Call us toll free: (800) 827-4242 Or Contact Us, Learn more about Captive.com Sign up to get our free newsletter, Captive.com, International Risk Management Institute, Inc. (IRMI), 12222 Merit Drive, Suite 1600, Dallas, TX 75251-2266, Copyright 20142023 International Risk Management Institute, Inc. (IRMI). Sponsor Us AM Best expects to resolve the under review with negative implications status when Watfords risk-adjusted capitalization is restored back to its prior level. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. The publisher estimates that in 2021 around 12.1 million adults were covered by mobile phone insurance and 5.7 million by gadget insurance. Manager, Public Relations h@>:x=aV=QW3E%]St g8j727Gxb`}qmvmbhSBfVwMky*9w{n~ g:*/e_Ml DT C Watford Insurance Company Europe Limited Other names Previous Name - Welwyn Insurance Company Limited Permissions Financial Services Act 2019 * Firms with an asterisk by their name may have for example a restricted or suspended licence. Watfords assets are not commingled with any other HPS-managed fund. clare.finnegan@ambest.com, Christopher Sharkey For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings. of operating insurance entities in remains stable. We use cookies to give you the best experience on our website. Senior Financial Analyst Partially offsetting these positive rating factors are the inherent risks associated with a start-up company and the risks associated with a leveraged alternative investment strategy. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Bests Credit Ratings. The outlook of these ratings is stable. What Are the Key Elements of a Captive Feasibility Study? AM Best acknowledges that the transaction with Arch could benefit the Watford group through potential further de-risking of its investment portfolio, removing the burden of public company. Ltd ("Somers Holdings", previously Watford Holdings Ltd). Keeping these cookies enabled helps us to improve our website and display content that is more relevant to you and your interests. Somers Re said that its new strategy and financial backing have resulted in AM Best affirming a financial strength rating of A- stable. We strive to be an innovative, customer- focussed insurance group; providing an excellent experience through collaboration and consistently delivering value. In addition, AM Best has placed under review with negative implications the Long-Term ICR of bbb- and the Long-Term Issue Credit Rating of bb on the $225 million ($52 million outstanding) 8.5% cumulative preference shares of Watford Holdings Ltd. (Watford) (Bermuda), the groups ultimate holding company. Suite 3, Ground Floor 5087 This press release relates to Credit Ratings that have been published on AM Bests website. View additional news, reports and products for this company. ARCH . Europort Avenue AM Best will evaluate on an ongoing basis Watfords risk-adjusted capitalization and invested asset valuations as updated information becomes available. The ratings reflect Watford's balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. WSIC and WIC each have an AM Best Financial Strength rating of "A-" (Excellent) and are in Financial Category XII ($1 billion to $1.25 billion) due to their affiliation with Watford Re. Details about the extent of our regulation by the FCA are available on request. The outlook assigned to these Credit Ratings (ratings) is stable. Required fields are marked *. In addition, AM Best has affirmed the Long-Term ICR of "bbb-" and the Long-Term Issue Credit Rating of "bb" on the $225 million 8.5% cumulative preference shares of Watford Holdings Ltd . Insurance (1188) Telecommunications (1137) Energy, Mining, Utilities (920) . Further actions could be taken if the ratings agency believes Watfords financial strength has continued to decay or it has not stabilized in a reasonable amount of time. this structure. Watford Specialty Insurance Company and Watford Insurance Company will serve U.S.-based customers, Watford Insurance Company (Europe) Limited will serve UK-based customers and Axeria IARD will provide capacity to clients across continental Europe. Kelso has significant experience investing in financial services, having deployed approximately $3 billion of equity capital in the sector. We are part of the Pinnacle Pet Group (PPG) - a pan European fully integrated pet insurance and health services platform, which was set up as a joint venture between JAB Holding Company and BNP Paribas . steven.chirico@ambest.com, Jim Peavy Kelso was founded by the inventor of the Employee Stock Ownership Plan (ESOP) and, as a result, the principles of partnership and alignment of interest serve as the foundation of the firms investment philosophy. C/Ctra. 120 - 122 Rue Reaumur . 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. Somers Re is a privately held global property and casualty insurance and reinsurance company with operations in Bermuda, the United States, and Europe. On July 2, 2021, Watford Holdings Ltd. was acquired by Arch Capital Group Ltd. (40%) and funds managed by Kelso & Company (30%) and . The outlook for all ratings The following links provide access to related data records that AM Best utilizes to provide financial and analytical data on a consolidated or branch basis. Gibraltar Reinsurers Financial Strength Press Release A.M. Best Rating Services, Inc. Insurance Bermuda Issuer Credit Rating Best's Credit Rating Action Rating Event. Thank you! AM Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Ratings of" a-" of Somers Re Ltd. and its subsidiaries: Watford Insurance Company Europe Limited . We believe that Somers Re is uniquely qualified to augment its position with its clients and counterparties and look forward to leveraging our expertise and capabilities to support the firm in this next chapter.. The Symbol, Number, or Score in the Rating Scale used to Denote the Credit Rating . The ratings reflect Watford's sound financial condition, diversified risk profile, and seasoned management team. business is provided by Arch Underwriters Ltd. and Arch Underwriters, Inc., both wholly owned %PDF-1.6 % WICE Policy Wording Page 3 of 36 Information about Your Policy documents Your Commercial Vehicle insurance contract is made up of: % of people found this article valuable. christopher.sharkey@ambest.com, Steven M. Chirico, CPA As an important step toward this objective, Somers Re is pleased to announce that its new strategy and financial backing have resulted in AM Best affirming a Financial Strength Rating of A- stable. 5644 +1 908 439 2200, ext. Part-Time. Attn: Claims Dept 445 South Street, Suite 220 P.O. a Gibraltar-domiciled insurance company (the "Company") and. . Box 1950 Morristown, NJ 07962-1950. Services (UK) of an Overseas Firm. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Based on AM Best's analysis, 033495 - R&Q Insurance Holdings Ltd is the AMB Ultimate Parent and identifies . Watford Insurance Company (Europe) Limited will serve UK . AM Best acknowledges that the transaction with Arch could benefit the Watford group through potential further de-risking of its investment portfolio, removing the burden of public company status, and possible rating enhancement stemming from being a member of a large, well-diversified group. +1 908 439 2200, ext. The net investment loss is expected to be predominantly comprised of unrealized mark-to-market losses to Watfords non-investment grade, fixed-income portfolio, said AM Best. Thank you! To Submit News go to - https://www.ambest.com/bestweek/submitnews.html, Guide for Media - Proper Use of Bests Credit Ratings and AM Best Rating Action Press Releases, Bests News: AM Best Says Title Insurers Post Solid Results Amid Volatile Landscape, Insurers and Corporations Pared Head Counts Amid Artificial Intelligence Adoption, Survey Finds, Saga Breaks Off Talks With Australian Insurtech Over Potential Acromas Deal, Desjardins Completes $551.8 Million Deal for Three Guardian Life Subsidiaries, IGI President: Growth Looks Good in Reinsurance and Short-Tail Lines, AM Best: Title Insurers Post Solid Results Amid Volatile Landscape, Hurricane Ian Losses Push United Insurance Holdings to Bigger Loss in Fourth Quarter, Nationwide Annual Net Operating Income Falls by Half to $1.4 Billion, R&Q in Talks With Regulators to Liquidate Reinsurance Operation, Update: Insurtech Root Fires Chief Financial Officer, James River CEO: Carrier Suspending Casualty Reinsurance Business as Profit Improvement Continues, State Farm Posts $6.7 Billion Annual Net Loss as Incurred Auto Losses Climb Nearly 40%, Berkshire Hathaway CEO: Geico Policies-in-Force Declined by 1.7 Million in 2022, Embattled Insurance Executive Lindberg Indicted in Alleged $2 Billion Scheme, RMS Estimates $5 Billion in Insured Losses From Turkey Earthquakes, Liberty Mutual CEO: Insurer Poised to Capitalize on Market Conditions Following Aggressive Rate, Underwriting Actions, Ian, Net Underwriting Losses Erode Policyholder Surplus, Send UPC Into Receivership, Brookfields $1.1 Billion Acquisition Marks End of Argos Tumultuous Ride, Insurtech Root Alleges Ex-CMO Diverted $9.4 Million to Himself, Bests News: AM Best Says Changes in the Crypto Market Are Mirrored in Ransomware Activity, Donegal CEO: Commercial Lines Retention Strong but New Business Falls Short as Rates Rise, AM Best Affirms Credit Ratings of Somers Re Ltd. and Its Subsidiaries, AM Best Assigns Credit Ratings to Axeria IARD, AM Best Removes From Under Review With Negative Implications; Affirms Credit Ratings of Watford Re Ltd. and Its Subsidiaries, AM Best Maintains Under Review With Negative Implications Status for Credit Ratings of Watford Re Ltd. and Its Subsidiaries, Arch, Investment Partners Complete Acquisition of Watford Holdings. For information on the proper use of Bests Credit Ratings, Bests Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Bests Ratings & Assessments. The overall Somers Group platform with insurance and reinsurance capabilities in Bermuda, U.S. and Europe has a unique value proposition and is well positioned to deliver bespoke solutions and meaningful capacity to our clients around the world., Steve Dutton, Partner at Kelso, said, Ive been very impressed with the teams ability to recognize an opportunity and then reimagine an entire business model to position the company to thrive in the coming years.