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Watford Holdings

DB:2WH
Snowflake Description

Moderate growth potential with imperfect balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
2WH
DB
$523M
Market Cap
  1. Home
  2. DE
  3. Insurance
Company description

Watford Holdings Ltd., together with its subsidiaries, operates as a property, casualty, and mortgage insurance and reinsurance company worldwide. The last earnings update was 75 days ago. More info.


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2WH Share Price and Events
7 Day Returns
-7.6%
DB:2WH
-0.6%
DE Insurance
-0.9%
DE Market
1 Year Returns
-
DB:2WH
19.7%
DE Insurance
-7.4%
DE Market
2WH Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Watford Holdings (2WH) -7.6% -14.8% -17.3% - - -
DE Insurance -0.6% 1.1% 1.4% 19.7% 61.5% 60.8%
DE Market -0.9% -0.4% -3.7% -7.4% 8.1% 12%
1 Year Return vs Industry and Market
  • No trading data on 2WH.
  • No trading data on 2WH.
Price Volatility
Industry
5yr Volatility vs Market

Value

 Is Watford Holdings undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Watford Holdings to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Watford Holdings.

DB:2WH Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $49.83 * 0.8%
$0.39
Book Value of Equity per Share Weighted future Book Value estimates from 2 analysts. $49.83
Discount Rate (Cost of Equity) See below 7.6%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:2WH
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Insurance Unlevered Beta Simply Wall St/ S&P Global 0.68
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.685 (1 + (1- 21%) (125.06%))
1.242
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.24
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.242 * 5.96%)
7.63%

Discounted Cash Flow Calculation for DB:2WH using Excess Returns Model Model

The calculations below outline how an intrinsic value for Watford Holdings is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:2WH Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (0.8% – 7.63%) * $49.83)
$-3.41
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $-3.41 / (7.63% - 0.23%)
$-46.13
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $49.83 + $-46.13
$3.7
DB:2WH Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:2WH represents 0.851x of NasdaqGS:WTRE
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.851x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 3.70 x 0.851
€3.15
Value per share (EUR) From above. €3.15
Current discount Discount to share price of €19.59
= -1 x (€19.59 - €3.15) / €3.15
-521.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Watford Holdings is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Watford Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Watford Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:2WH PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $-0.87
NasdaqGS:WTRE Share Price ** NasdaqGS (2019-07-22) in USD $23.02
Germany Insurance Industry PE Ratio Median Figure of 6 Publicly-Listed Insurance Companies 13.42x
Germany Market PE Ratio Median Figure of 422 Publicly-Listed Companies 19.71x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Watford Holdings.

DB:2WH PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:WTRE Share Price ÷ EPS (both in USD)

= 23.02 ÷ -0.87

-26.55x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Watford Holdings is loss making, we can't compare its value to the DE Insurance industry average.
  • Watford Holdings is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Watford Holdings's expected growth come at a high price?
Raw Data
DB:2WH PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -26.55x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
17.6%per year
Germany Insurance Industry PEG Ratio Median Figure of 5 Publicly-Listed Insurance Companies 3.13x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.43x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Watford Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Watford Holdings's assets?
Raw Data
DB:2WH PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $41.52
NasdaqGS:WTRE Share Price * NasdaqGS (2019-07-22) in USD $23.02
Germany Insurance Industry PB Ratio Median Figure of 6 Publicly-Listed Insurance Companies 1.08x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.72x
DB:2WH PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:WTRE Share Price ÷ Book Value per Share (both in USD)

= 23.02 ÷ 41.52

0.55x

* Primary Listing of Watford Holdings.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Watford Holdings is good value based on assets compared to the DE Insurance industry average.
X
Value checks
We assess Watford Holdings's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Insurance industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Insurance industry average (and greater than 0)? (1 check)
  5. Watford Holdings has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Watford Holdings expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
17.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Watford Holdings expected to grow at an attractive rate?
  • Watford Holdings's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Watford Holdings's earnings growth is expected to exceed the Germany market average.
  • Watford Holdings's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:2WH Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:2WH Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 17.6%
DB:2WH Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 8%
Germany Insurance Industry Earnings Growth Rate Market Cap Weighted Average 4.5%
Germany Insurance Industry Revenue Growth Rate Market Cap Weighted Average 5%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.5%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:2WH Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:2WH Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 850 98 1
2020-12-31 792 83 1
2019-12-31 801 125 1
DB:2WH Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 650 269 -20
2018-12-31 602 229 -55
2018-09-30 645 245 21
2018-06-30 637 250 -16
2018-03-31 622 255 -11
2017-12-31 624 292 -9
2016-12-31 632 275 127

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Watford Holdings's earnings are expected to grow by 17.6% yearly, however this is not considered high growth (20% yearly).
  • Watford Holdings's revenue is expected to grow by 8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:2WH Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Watford Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:2WH Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 4.38 4.52 4.24 2.00
2020-12-31 3.66 3.69 3.64 3.00
2019-12-31 5.53 6.24 4.55 3.00
DB:2WH Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 -0.87
2018-12-31 -2.40
2018-09-30 0.93
2018-06-30 -0.70
2018-03-31 -0.46
2017-12-31 -0.39
2016-12-31 5.60

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Watford Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Watford Holdings's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Watford Holdings has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Watford Holdings performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Watford Holdings's growth in the last year to its industry (Insurance).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Watford Holdings does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Watford Holdings's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Watford Holdings's 1-year growth to the DE Insurance industry average as it is not currently profitable.
Earnings and Revenue History
Watford Holdings's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Watford Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:2WH Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 649.79 -19.67 24.49
2018-12-31 601.74 -54.52 22.31
2018-09-30 644.52 21.15 21.00
2018-06-30 636.96 -15.84 20.71
2018-03-31 621.73 -10.54 20.76
2017-12-31 623.54 -8.89 21.17
2016-12-31 632.11 127.10 17.96
2015-12-31 397.14 -33.70 11.93

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Watford Holdings has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • Watford Holdings used its assets less efficiently than the DE Insurance industry average last year based on Return on Assets.
  • It is difficult to establish if Watford Holdings improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Watford Holdings's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Insurance industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Watford Holdings has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Watford Holdings's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Watford Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Watford Holdings's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Watford Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Watford Holdings's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Watford Holdings Company Filings, last reported 3 months ago.

DB:2WH Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 1,162.97 652.74 331.22
2018-12-31 1,110.60 693.92 273.49
2018-09-30 1,206.25 623.94 258.19
2018-06-30 1,188.63 614.46 231.44
2018-03-31 1,168.50 549.17 308.24
2017-12-31 1,168.50 549.17 308.24
2016-12-31 1,177.62 258.86 383.45
2015-12-31 1,050.23 435.28 394.47
  • Watford Holdings's level of debt (56.1%) compared to net worth is high (greater than 40%).
  • Unable to establish if Watford Holdings's debt level has increased without past 5-year debt data.
  • Debt is well covered by operating cash flow (41.3%, greater than 20% of total debt).
  • Watford Holdings is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess Watford Holdings's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Watford Holdings has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Watford Holdings's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Watford Holdings dividends.
If you bought €2,000 of Watford Holdings shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Watford Holdings's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Watford Holdings's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:2WH Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
Germany Insurance Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 4.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 325 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:2WH Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31
2020-12-31
2019-12-31

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Watford Holdings has not reported any payouts.
  • Unable to verify if Watford Holdings's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Watford Holdings's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Watford Holdings has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Watford Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Watford Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Watford Holdings has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Watford Holdings's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
John Rathgeber
COMPENSATION $1,155,807
AGE 64
CEO Bio

Mr. John F. Rathgeber, FCAS, MAAA, CPCU has served as Watford Holdings Ltd. Chief Executive Officer and as a director since January 2014. From October 2009 to January 2014, Mr. Rathgeber was Vice Chairman of the Arch Worldwide Reinsurance Group and Chairman of Arch Reinsurance Company. He served as President and Chief Executive Officer of Arch Reinsurance Company for eight years beginning with its formation in December 2001. Prior to joining Arch Reinsurance Company, Mr. Rathgeber was Executive Vice President of the Financial Solutions Business Unit of St. Paul Re, the reinsurance operation of the St. Paul Companies. From 1996 until 1998, he served as Senior Vice President in the Non-Traditional Underwriting Department of F&G Re Inc., the reinsurance operation of USF&G Corp., and from November 1992 until 1996, Mr. Rathgeber was Vice President of Non-Traditional reinsurance at F&G Re. Mr. Rathgeber started his career at Prudential Re, the reinsurance operation of The Prudential Insurance Company of America, in 1980 and worked there until 1992. During that time, he held various underwriting positions and was also a director in Prudential Re’s Actuarial Department. He is a former Chairman of the Reinsurance Association of America and currently serves on its board of directors. Mr. Rathgeber received a B.A. from Williams College. He is a Chartered Property and Casualty Underwriter, a Fellow of the Casualty Actuarial Society and a Member of the American Academy of Actuaries.

CEO Compensation
  • John's compensation has increased whilst company is loss making.
  • John's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Watford Holdings management team in years:

2.5
Average Tenure
49.5
Average Age
  • The tenure for the Watford Holdings management team is about average.
Management Team

John Rathgeber

TITLE
CEO & Director
COMPENSATION
$1M
AGE
64

Jon Levy

TITLE
President & Chief Risk Officer
COMPENSATION
$1M
AGE
43
TENURE
1.4 yrs

Laurence Richardson

TITLE
Chief Operating Officer
COMPENSATION
$674K
AGE
60
TENURE
2.5 yrs

Robert Hawley

TITLE
Chief Financial Officer
AGE
49
TENURE
4 yrs

Roderick Romeo

TITLE
Chief Accounting Officer
AGE
49
TENURE
2.5 yrs

Alex Scherer

TITLE
Chief Executive Officer of WSIC & WIC
AGE
50
Board of Directors Tenure

Average tenure and age of the Watford Holdings board of directors in years:

3.8
Average Tenure
62.5
Average Age
  • The tenure for the Watford Holdings board of directors is about average.
Board of Directors

Walter Harris

TITLE
Chairman of the Board
AGE
67
TENURE
5.3 yrs

John Rathgeber

TITLE
CEO & Director
COMPENSATION
$1M
AGE
64
TENURE
5.5 yrs

Garth Turner

TITLE
Independent Director
COMPENSATION
$90K
AGE
52
TENURE
5.3 yrs

Deborah DeCotis

TITLE
Independent Director
COMPENSATION
$90K
AGE
67
TENURE
2.3 yrs

Thomas Miller

TITLE
Independent Director
COMPENSATION
$68K
AGE
62
TENURE
2.2 yrs

Betsy Gile

TITLE
Independent Director
COMPENSATION
$90K
AGE
63
TENURE
1.8 yrs

Nicolas Alain Papadopoulo

TITLE
Director
AGE
56
TENURE
5.3 yrs

Maamoun Rajeh

TITLE
Director
AGE
48
TENURE
1.3 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Watford Holdings individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
24. May 19 Buy Jonathan Levy Individual 22. May 19 22. May 19 3,000 €23.27 €69,786
17. May 19 Buy Robert Hawley Individual 16. May 19 17. May 19 3,846 €23.07 €87,991
16. May 19 Buy Alexandre Jean Scherer Individual 13. May 19 15. May 19 2,800 €23.19 €64,491
14. May 19 Buy Robert Hawley Individual 14. May 19 14. May 19 4,000 €22.75 €90,826
10. May 19 Buy Maamoun Rajeh Individual 09. May 19 09. May 19 10,000 €22.30 €223,045
09. May 19 Buy Nicolas Alain Papadopoulo Individual 08. May 19 08. May 19 20,000 €22.31 €445,324
09. May 19 Buy Jonathan Levy Individual 07. May 19 08. May 19 4,000 €22.31 €88,417
08. May 19 Buy John Rathgeber Individual 08. May 19 08. May 19 10,000 €22.25 €222,456
07. May 19 Buy Maamoun Rajeh Individual 02. May 19 02. May 19 10,000 €24.42 €244,171
06. May 19 Buy Alexandre Jean Scherer Individual 03. May 19 03. May 19 1,200 €23.58 €28,160
X
Management checks
We assess Watford Holdings's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Watford Holdings has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Watford Holdings Ltd., together with its subsidiaries, operates as a property, casualty, and mortgage insurance and reinsurance company worldwide. The company was founded in 2013 and is headquartered in Pembroke, Bermuda.

Details
Name: Watford Holdings Ltd.
2WH
Exchange: DB
Founded: 2013
$468,674,016
22,682,875
Website: http://www.watfordre.com
Address: Watford Holdings Ltd.
Waterloo House,
1st Floor,
Pembroke,
HM 08,
Bermuda
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS WTRE Common Shares Nasdaq Global Select US USD 28. Mar 2019
DB 2WH Common Shares Deutsche Boerse AG DE EUR 28. Mar 2019
Number of employees
Current staff
Staff numbers
10
Watford Holdings employees.
Industry
Multi-line Insurance
Insurance
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/24 01:06
End of day share price update: 2019/07/22 00:00
Last estimates confirmation: 2019/07/12
Last earnings filing: 2019/05/10
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.