Watford acquisition expands its reach in France and the EU

Watford Holdings has agreed to acquire Axeria IARD, a French property and casualty insurance company.

Watford, a global property and casualty re/insurance company with approximately $1.2 billion in capital as of the end of Q3, is acquiring 100 percent of Axeria IARD’s capital stock from the APRIL group. Lyon-based Axeria IARD is active in the French and EU commercial property and casualty insurance market with in-force gross premiums written of approximately €140 million.

The transaction is expected to close in the spring of 2020, subject to regulatory approval.

John Rathgeber, CEO at Watford, said Watford will work with Axeria management to quickly integrate Axeria IARD into Watford while continuing to serve Axeria IARD’s clients. “Consistent with our business model, Watford will work closely with our underwriting manager, Arch, to enable Axeria IARD to grow its existing business in France, as well as to develop new insurance business opportunities throughout the European Union,”  Rathgeber added.