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Income Statement
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Watford Holdings Ltd. (WTRE)

Income Statement

Annual | Quarterly | TTM
 
In millions, except per share itemsDec-31-20Dec-31-19Dec-31-18Dec-31-17Dec-31-16
   10-K10-K10-K10-KS-1/A
Revenues:  
    Casualty reinsurance  205.2238.4278.7308.5 
    Insurance programs and coinsurance  200.2155.2126.575.7 
    Other specialty reinsurance  131.9149.7162.7134.9 
    Property catastrophe reinsurance  23.013.411.012.7 
    Other  116.0130.7 75.9 
Total revenues  676.4687.4575.2607.6704.2
            Revenue growth  -1.6%19.5%-5.3%-13.7% 
Loss and loss adjustment expenses  -440.5-453.1-441.3-436.4-321.6
Policy acquisition costs  -125.5-126.8-141.1-140.7 
Investment expenses  -16.8-29.3-28.4-17.5 
Other operating expenses  599.8619.0610.1596.9557.4
General and administrative  28.330.822.321.218.0
EBITDA     12.4 
            EBITDA margin  11.1%8.8%-3.8%2.0%39.6%
Depreciation     0.2 
EBITA  75.260.2-22.112.2278.6
            EBITA margin  11.1%8.8%-3.8%2.0%39.6%
Amortization of intangibles  0.00.10.2  
EBIT  75.260.1-22.212.2278.6
            EBIT margin  11.1%8.7%-3.9%2.0%39.6%
Interest and other income (expense), net    -5.41.4-4.9
Interest income, net   [+]-24.7-19.83.61.4-4.9
Other income (expense), net    -9.0  
Pre-tax income  64.962.6-34.910.8146.7
Income taxes  0.00.00.00.00.0
            Tax rate  0.0%0.0% 0.2%0.0%
Net income  60.544.7-54.5-8.9127.1
            Net margin  8.9%6.5%-9.5%-1.5%18.0%
   
Basic EPS  $3.04$2.00($2.40)($0.39) 
Diluted EPS  $3.04$2.00($2.40)($0.39) 
   
Shares outstanding (basic)  19.922.422.722.7 
Shares outstanding (diluted)  19.922.422.722.7 
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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