Watford Holdings Announces CEO Succession Plan
February 27 2020 - 3:15PM
Watford Holdings Limited ("Watford" or the "Company") (NASDAQ:
WTRE) today announced that John F. Rathgeber will retire as Chief
Executive Officer on March 31, 2020. Mr. Rathgeber will remain a
member of Watford’s board of directors and serve as a senior
advisor to the Company.
Walter L. Harris, Chairman of the Board of Watford said, “On
behalf of the board, I want to extend a sincere thank you to John
for his accomplishments as CEO. He has guided the Company from its
formation, navigated through challenging markets and ultimately
spearheaded Watford’s entry into the public markets. I’m pleased we
will continue to benefit from his insights and perspectives through
his roles on the board and as an advisor to the Company.”
Rathgeber will be succeeded by Jonathan D. Levy, who currently
serves as Watford’s President.
“I am extremely pleased to turn over the reins to Jon, an
immensely talented individual,” commented Mr. Rathgeber. “I’m proud
of what Watford has accomplished to-date and feel privileged to
have helped establish a company with such a unique and powerful
business model. I look forward to making further contributions to
Watford’s success as an engaged board member.”
Mr. Levy stated, “I’m excited about the future of Watford and
grateful for the opportunity to lead the Company. I’d like to thank
John for his sage leadership over the past six years. It will be my
mandate to build upon the foundation that John has helped create. I
look forward to working with our board, strong management team and
business partners, Arch and HPS, to ensure Watford delivers long
term value to its clients, employees and shareholders.”
Mr. Levy joined Watford at its inception as its Chief Risk
Officer. Previously, he served as Chief Pricing Actuary of
Insurance for Endurance Specialty Holdings Ltd. Prior to that he
was a Senior Consultant at Tillinghast Towers Perrin, after
starting his career at ACE INA. Mr. Levy holds an A.B. in
Mathematics and Economics from Lafayette College, is a fellow of
the Casualty Actuarial Society, and is a member of the American
Academy of Actuaries.
About Watford Holdings Ltd.
Watford Holdings Ltd. is a global property and casualty
insurance and reinsurance company with approximately $1.1
billion in capital as of December 31, 2019, with
operations in Bermuda, the United States, and Europe. Its operating
subsidiaries have been assigned financial strength ratings of “A-”
(Excellent) from A.M. Best and “A” from Kroll Bond Rating Agency
“KBRA.”
Cautionary Note
Regarding Forward Looking
Statements
The Private Securities Litigation Reform Act of
1995 (the “PSLRA”) provides a “safe harbor” for forward-looking
statements. This news release contains forward-looking
statements. Forward-looking statements, for purposes of the PSLRA
or otherwise, generally can be identified by the words “believes,”
“expects,” “intends,” “plans,” “estimates” or similar expressions
that indicate future events. Such statements are based on current
assumptions that involve risks and uncertainties that could cause
actual outcomes and results to differ materially, including:
uncertainties with respect to market conditions; and other risks
set forth in the Company’s Registration Statement on Form S-1 (File
No. 333-230080), as amended, filed with the Securities and Exchange
Commission (the "SEC"), and in the Company’s periodic reports filed
with the SEC. Investors are cautioned not to place undue reliance
on these forward-looking statements, which speak only as of the
date hereof. Watford disclaims any obligation to update these
forward-looking statements because of new information, future
events or circumstances or other factors.
Contacts
Laurence Richardson (Investor
Contact): lbr@watfordholdings.com
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