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Argo Group

Argo agrees Ariel Re sale to Pelican Ventures, JC Flowers

2nd November 2020

Argo Group has reached an agreement with Pelican Ventures and J.C. Flowers & Co that will see the two private equity investors acquire property and casualty reinsurance underwriter Ariel Re for an undisclosed sum. Terms for an operational partnership with Apollo Syndicate Management have been also agreed upon. The partnership will be ... Read the full article

Argo warns of $54mn catastrophe hit ahead of Q3 results

22nd October 2020

Speciality re/insurer Argo Group has warned that its third quarter results will be impacted by approximately $54 million of catastrophe losses, in addition to $17 million of losses due to COVID-19. Catastrophe losses will be primarily related to Hurricanes Hanna, Laura and Sally, as well as the US wildfires and Midwest ... Read the full article

ArgoGlobal announces RITC transaction with RiverStone

12th October 2020

ArgoGlobal, a Lloyd’s insurer and member of speciality reinsurer Argo Group, has entered into a reinsurance-to-close (RITC) transaction with legacy specialist RiverStone. The deal will see RiverStone undertake an RITC of ArgoGlobal’s Syndicate 1200 for 2017 and prior years with net technical provisions of £356 million. The transaction is expected to receive ... Read the full article

Argo adds Allison Kiene to serve as group general counsel

1st October 2020

Speciality re/insurer Argo Group has announced the appointment of Allison Kiene to serve as group general counsel. Kiene will be responsible for the company’s legal and compliance teams and will report directly to Chief Executive Officer Kevin Rehnberg. She joins from Sompo International, having most recently served as assistant general counsel and ... Read the full article

David Corry takes senior role at Argo Environmental

17th September 2020

Argo Environmental, a subsidiary of specialty re/insurer Argo Group International Holdings Ltd., has announced the appointment of David Corry as Senior Vice President (SVP), Head of Environmental. Corry joins Argo from Markel, where he was senior director of environmental and energy insurance. He previously spent a decade working at Crum & Forster ... Read the full article

Argo posts improved Q2 performance as underwriting loss narrows

4th August 2020

Specialty re/insurer Argo has registered a $6.4 million net loss in the second quarter, down from the $28.8 million profit in the prior year quarter. Meanwhile, the company's combined ratio hit 100.3%, compared to 103.4% in Q2 2019. Argo's $1.2 million underwriting loss for the quarter represents an improvement from the $14.5 ... Read the full article

Argo-backed Lloyd’s Syndicate 1200 downgraded

16th July 2020

Syndicate Research Limited (SRL) has downgraded the B (Average), under review for possible downgrade, Continuity Opinion of Argo Group-backed Lloyd's Syndicate 1200. SRL, which provides research on all trading syndicates operating in the Lloyd’s market, says this decision was driven in part by the announcement of the syndicate’s 2019 annual results and ... Read the full article

Argo updates leadership roles, as CFO departs

6th July 2020

Specialty re/insurer Argo has announced an update to its senior leadership team responsibilities, as well as the departure of its Chief Financial Officer Jay Bullock. The update comes at a tumultuous time for Argo, after it was dealt a $900,00 fine by the Securities and Exchange Commission (SEC) last month. The ... Read the full article

Argo driven to Q1 loss by Covid-19 pandemic claims

8th May 2020

Argo Group International Holdings, Ltd., the Bermuda based insurance and reinsurance company, fell to a first-quarter loss to start the year, as claims from the Covid-19 pandemic dented its performance. Argo has reported a net loss of $18.8 million for the first-quarter of 2020, but having suffered $26.2 million of claims ... Read the full article

Argo Group announces new board members

17th April 2020

Specialty reinsurer Argo Group has announced the election of three new board members at its Annual General Meeting. Appointments include Bernard C. Bailey, Fred R. Donner and Argo Group Chief Executive Officer Kevin J. Rehnberg. Five former directors are retiring from the board, including former Board Chairman Gary V. Woods, F. Sedgwick ... Read the full article

Argo Group and subsidiaries’ ratings downgraded by A.M. Best

27th February 2020

Global financial services ratings agency A.M. Best has removed from under review with negative implications and downgraded the credit ratings of Argo Group International Holdings, Ltd. and its subsidiaries. Specifically, the ratings agency has removed from under review with negative implications and downgraded the Financial Strength Rating (FSR) to A- (Excellent) ... Read the full article

Argo reports operating loss, unfavourable reserve development

25th February 2020

Bermuda domiciled insurer and reinsurer Argo Group International Holdings, Ltd. has reported a net loss of more than $103 million for the fourth-quarter of 2019, and a combined ratio of almost 127%. The company announced earlier this month that its fourth-quarter results were likely to include an underwriting loss, with ... Read the full article

Argo warns ahead of “unacceptable” $114mn Q4 loss

13th February 2020

Bermuda-based insurer and reinsurer Argo Group International Holdings, Ltd. has issued a statement ahead of the release of its fourth quarter results, which it has warned will likely contain a $114 million underwriting loss. Argo Group Interim CEO Kevin Rehnberg said that the company’s results for both the quarter and the ... Read the full article

Argo confirms addition of Carol McFate to its Board

10th February 2020

Bermuda-based insurer and reinsurer Argo Group International Holdings, Ltd. has announced the addition of Carol A. McFate to its Board of Directors. McFate retired from Xerox Corporation in 2017 after serving as Chief Investment Officer for more than a decade. During this time, she was responsible for the insourcing, oversight and ... Read the full article

ArgoGlobal-backed Loadsure secures Lloyd’s coverholder approval

10th February 2020

Loadsure, a managing general agency (MGA) focused on the U.S. spot freight industry, has been granted coverholder status by the specialist Lloyd's of London insurance and reinsurance marketplace. ArgoGlobal, a division of re/insurer Argo Group, has partnered with Loadsure to provide capacity and support for its development, and has been working ... Read the full article

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