Specialty insurance and reinsurance firm Argo Group is getting into the transactional risk insurance space, focusing on the smoothing of merger & acquisition pains for clients.
Argo division Argo Pro has partnered with BlueChip Underwriting Services LLC, to offer a transactional risk insurance program designed to facilitate mergers and acquisitions.
“I am delighted to announce this partnership with BlueChip,” commented Craig Landi, president, Argo Pro. “The demand for this proposition is clear. I am certain this new offering will allow us to carve out a significant share of the market rapidly.”
Demand for protection to underwrite the risks associated with M&A transactions has been on the rise, and these mid to longer tailed risks are as a result in demand from reinsurers with casualty insurance underwriting expertise, as seen at Argo.
Argo Pro is going to be lead capacity provider with the backing of Argo Group’s Lloyd’s of London operation, ArgoGlobal Syndicate 1200, with global limits of up to $30 million for any one transaction on offer to clients.
BlueChip will sell and underwrite the range of products, including Representation & Warranties, Tax Indemnity, and Contingent Liability insurance products.
“It is a pleasure working with a forward-thinking organization,” said Scott Fritts, chairman, BlueChip. “The strong partnership with Argo Pro will allow us to draw on their extensive industry knowledge and best practices.”
“This is a compelling partnership between our colleagues in the U.S., Syndicate 1200 and BlueChip,” Ryan Barnes, head of casualty at ArgoGlobal explained. “This is also an excellent example of Argo Group’s ability to bring together our various areas of expertise quickly to create innovative solutions for the marketplace.”