- Push-out Score determined
- After about six years in the position
- Praise and thanks for Rathgeber
- Jon Levy taking over
- Rathgeber kept it short and said 55 words
(exechange) — Hamilton, Bermuda, February 28, 2020 — John Rathgeber, chief executive of Watford, leaves. As announced by Watford Holdings Ltd. in a news release published on Thursday, February 27, 2020 and in a regulatory filing published on Friday, February 28, 2020, John F. Rathgeber leaves his post as chief executive officer at the property and casualty insurance and reinsurance company after about six years in the role, effective March 31, 2020.
John Rathgeber’s duties as CEO will be taken over by Jonathan D. (Jon) Levy, currently President of Watford Holdings Ltd.
It is a generational change as well. Jon Levy is about 21 years younger than John Rathgeber.
No reason given
In the announcement, Watford did not explicitly explain the reason for John Rathgeber’s move.
Precise information regarding John Rathgeber’s future plans was not immediately available.
“Retire”
Watford said: “John F. Rathgeber will retire as Chief Executive Officer on March 31, 2020.”
Share price decline
The announcement follows a decline in Watford Holdings Ltd.’s share price of 12% since April 2019.
Chaired by Walter L. Harris
Watford Holdings Ltd. is chaired by Walter L. Harris.
Harris has served as the Company’s Chairman of the Board since March 2014.
In the position of CEO since 2014
John Rathgeber became CEO of the Company in 2014.
Rathgeber will remain a member of Watford’s board of directors and serve as a senior advisor to the Company.
Rathgeber has served as the Company’s Chief Executive Officer and as a director since January 2014.
From October 2009 to January 2014, 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, 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, Rathgeber was Vice President of Non-Traditional reinsurance at F&G Re.
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. 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.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Watford and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 9.2020 ($).