Watford to acquire Axeria IARD from April Group.

Watford, a provider of property and casualty insurance services, agreed to acquire Axeria IARD, a provider of insurance services, from April Group, a international insurance services group. Financial terms were not disclosed. The transaction is subject to regulatory approval and is expected to close in the Spring of 2020. “This transaction represents another significant milestone in the build-out of our insurance business. 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. We are extremely pleased to acquire such a quality company and look forward to working with Axeria management to quickly integrate Axeria IARD into Watford while continuing to meet the needs of Axeria IARD clients and further enhance Watford shareholder value,” John Rathgeber, Watford CEO.