After the Bermuda-based reinsurer Watford Holdings was advised by one of its investors to sell itself back in May, the firm has now received a US$500-million offer from a consortium led by Arch Capital Group, according to an exclusive report from Reuters.
The acquisition bid comes at the one-year mark of Watford Holdings going public, during which time its shares have lost around a third of their value, leading to questions around whether the reinsurer could garner enough investment returns to cover all of its expenses as it paid out on insurance policies.
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