ITEM 8.01 Other Events.
On July 2, 2021, Arch Capital Group Ltd. ("Arch" or "the Company"), along with
investment partners Kelso & Company ("Kelso") and Warburg Pincus LLC ("Warburg
Pincus"), issued a press release announcing the completion of the previously
disclosed acquisition of Watford Holdings Ltd. ("Watford") on July 1, 2021 by an
affiliated entity of which Arch Reinsurance Ltd. owns 40%, certain investment
funds managed by Kelso own 30% and certain investment funds managed by Warburg
Pincus own 30%. Based on the governing documents of the acquiring entity, the
Company has concluded that, while it will retain significant influence over
Watford, Watford will no longer constitute a variable interest entity of which
the Company is the primary beneficiary. Accordingly, effective July 1, 2021 Arch
will no longer consolidate the results of Watford in its consolidated financial
statements. A copy of this press release is attached to this Current Report on
Form 8-K as Exhibit 99.1 and is incorporated herein by reference.
ITEM 9.01 Financial Statements and Exhibits.
(d): The following exhibits are being filed herewith.
EXHIBIT NO. DESCRIPTION
99.1 Press Release dated July 2, 2021 announcing completion of the acquisition
of Watford.
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