April 24, 2020 / 1:30 AM / a month ago

BRIEF-Watford Announces Expected Impact Of Covid-19 On 2020 First Quarter Results

April 23 (Reuters) - Watford Holdings Ltd:

* WATFORD ANNOUNCES EXPECTED IMPACT OF COVID-19 ON 2020 FIRST QUARTER RESULTS

* ESTIMATES THAT 2020 Q1 EARNINGS WILL INCLUDE A NET INVESTMENT LOSS OF ABOUT $265 MILLION DUE TO INVESTMENT MARKET VOLATILITY

* IMPACT OF UNREALIZED MARK-TO-MARKET LOSSES ON NET INCOME IS ESTIMATED TO BE APPROXIMATELY $290 MILLION

* REALIZED LOSSES IN QUARTER ARE ESTIMATED TO BE APPROXIMATELY $6 MILLION

* BOOK VALUE WILL BE IMPACTED BY UNREALIZED MARK-TO-MARKET LOSSES TO INVESTMENT GRADE PORTFOLIO OF ABOUT $38 MILLION

* IMPACT OF COVID-19 ON COMPANY’S 2020 Q1 UNDERWRITING RESULTS IS NOT EXPECTED TO BE MATERIAL Source text for Eikon: Further company coverage:

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