In the wake of its successful acquisition of Ariel Re, global specialty insurance and reinsurance underwriting company Argo Group International Holdings, Ltd. has named former Ariel Re chief executive officer, Ryan Mather as its Global Head of Reinsurance.
Argo Group completed its acquisition of Ariel Re just yesterday, in a deal costing it around $235 million in cash, as it looks to expand its reinsurance capabilities.
“Ariel Re and Argo Group are a terrific fit – operationally and culturally,” commented Argo Group CEO Mark E. Watson III. “Ryan’s leadership and collaboration were key factors in our ability to finalize this agreement and begin implementing the company’s integration plan so swiftly. This is reflective of the teamwork and outstanding results we expect to see in the future.”
Mather will now lead all reinsurance operations across the Argo Group, with the Ariel Re brand to be used for this piece of Argo Group’s growing business, so Argo Re will now be known as Ariel Re. Mather will report directly to Jose A. Hernandez, head of Argo Group’s International Business.
“This transaction improves the company’s ability to manage through changing market cycles,” Hernandez said. “It also adds new capabilities that can be leveraged throughout the entire organization, including Ariel Re’s unique modeling and risk analysis tools, which enhance Argo’s already robust underwriting analytics.
“Under Ryan’s leadership, Ariel Re and Argo Re have combined to become a market-leading business and will make a meaningful and immediate contribution to earnings and return on equity.”
