Arch Capital-backed insurer Watford Holdings schedules direct listing

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Watford Holdings, a provider of property and casualty insurance and reinsurance, has launched a direct listing.

The Pembroke, Bermuda-based company plans to list on the Nasdaq under the symbol WTRE during the week of February 11, 2019. As a direct listing, Watford has not disclosed a proposed range or valuation for its shares. At year-end, the company had an estimated book value per share of $39.22, or a book value of $890 million. 

Watford Holdings was founded in 2013 and booked $629 million in revenue for the 12 months ended September 30, 2018. J.P. Morgan, Barclays and Morgan Stanley are the joint lead advisors on the deal. It is

The article Arch Capital-backed insurer Watford Holdings schedules direct listing originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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