Thomas Bradley, the Chairman of specialty insurer and reinsurer Argo Group International Holdings, Ltd., has taken over as Chief Executive Officer (CEO) from Kevin Rehnberg, who is “temporarily unable to perform his duties for health reasons.”
A filing with the U.S. Securities and Exchange Commission (SEC) reveals that, effective March 3rd, 2022, Bradley, who has served on Argo’s Board of Directors since 2018, and as Chairman since 2020, assumed Rehnberg’s authority, duties, and responsibilities as CEO during this period.
In an email to colleagues dated March 7th, 2022, included in the form 8-K, Bradley notes that CEO Rehnberg is taking temporary medical leave of absence, and that during this time, the Board has asked him to serve as acting CEO pursuant to the company’s business continuity plan.
“We all wish Kevin the best as he focuses on restoring his health. He has made great progress toward transforming Argo Group over the past few years. The board of directors has absolute confidence in the strong leadership team Kevin has assembled and is impressed by the continued commitment among all employees across the company,” reads the email.
“After a career in the insurance industry, I joined Argo’s board of directors in 2018 and was appointed board chairman in 2020. During that time, I’ve had the privilege of working closely with the executive team and do not expect any disruption to our daily course of business,” it continues.
In late February, Argo reported a net loss of almost $119 million for the fourth quarter of 2021, as its combined ratio weakened on the back of adverse prior year reserve development and non-operating charges.
