Watford Re prepares for $1.2bn IPO

Watford Re is poised to file for an IPO as it seeks to become
the first total return reinsurer of the class of 2014-16 to enter
the public markets, The Insurance Insider
can reveal.
Sources said that the reinsurer, a joint venture founded by Arch
Capital and fund manager HPS Investment Partners (formerly
Highbridge), will look to float on the New York Stock Exchange late
this year.
At year-end 2016, the business had $1.18bn of shareholder
equity, with sources suggesting...