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
