Reinsurance News

Argo Group

Argo Surety announces President & other senior appointments

25th August 2023

Argo Group International Holdings, Ltd. has announced the appointment of Greg Chilson as President of Argo Surety, effective September 1st, 2023. Chilson has been serving as a Strategic Advisor since May and will report to Jessica Snyder, Argo’s President of U.S. Insurance. This announcement follows the appointment of Rod Williams as Head ... Read the full article

Argo Group reports Q2 2023 underwriting loss on higher loss ratio

8th August 2023

Argo Group International Holdings, Ltd. has announced a deterioration in its combined ratio to 106.8% for Q2 2023 compared with 96.2% in Q2 2022, as the firm reports an underwriting loss of $22.4 million for the period on the back of a higher loss ratio. The Q2 2023 underwriting loss compares ... Read the full article

Trisura Group set to provide underwriting services to Argo’s surety business

25th May 2023

Argo Group International Holdings, Ltd., has announced that it has come to an agreement with North American insurer, Trisura Group, Ltd., to support its surety underwriting operations as it looks to revamp and grow its surety business. Through the partnership, Trisura will provide surety underwriting services, as well as other services ... Read the full article

Argo reports a combined ratio of 108.1% for Q1 2023

9th May 2023

Argo Group International Holdings, Ltd. has reported its financial results for Q1 of 2023, a combined ratio of 108.1% which has increased by 13.1% points, driven by a higher loss ratio. The loss ratio of 73.0% increased by 14% points, compared to 59.0% in Q1 2022. The company saw reduced catastrophe ... Read the full article

Argo shareholders approve merger with Brookfield Reinsurance

20th April 2023

Bermuda-based specialty P&C insurer Argo has announced that its shareholders have voted to approve an agreement for the company to be acquired by Brookfield Reinsurance, the operator of a financial services business providing capital-based solutions to the insurance industry. The all-cash acquisition proposal, made by Brookfield Reinsurance back in February, ... Read the full article

Lancashire appoints Argo’s Alison Gaudette as Group Sustainability Manager

4th April 2023

Lancashire Insurance Group has appointed Alison Gaudette as its first Group Sustainability Manager. Within her new role, Gaudette will report to Lancashire’s Group Chief Risk Officer, Louise Wells. Gaudette joins the firm from Argo Group, where she most recently held the role of Sustainability Manager. Before she held that role, she served ... Read the full article

Argo Group reports $112m net loss in Q4

28th February 2023

Bermuda-based Argo Group International Holdings, Ltd. has reported a net loss of $111.8m for the fourth quarter of 2022, compared with a loss of $117.8m a year earlier. The company’s gross written premiums (GWP) narrowed to $644.5m, with an underwriting loss of $133.8m. In Q4 2021 Argo Group reported GWP earnings ... Read the full article

J. Daniel Plants to Step Down from Argo’s Board of Directors

15th February 2023

Argo Group International Holdings, Ltd., has announced that J. Daniel Plants, a member of the Argo Board of Directors, and Chairman of its Strategic Review Committee, has notified the company of his intention to step down from the Board, effective immediately. Plants is the Founder and Chief Investment Officer of Voce ... Read the full article

AM Best places Argo’s credit ratings under review

13th February 2023

Credit ratings of Argo Group International Holdings, Ltd. and its subsidiaries have been placed under review with developing implications by AM Best, according to a recent statement by the credit rating agency. These ratings include the firm’s Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb-” (Good) and the associated Long-Term Issue ... Read the full article

Brookfield Reinsurance’s expansion continues with $1.1bn Argo acquisition

8th February 2023

Brookfield Reinsurance, the operator of a financial services business providing capital-based solutions to the insurance industry, has announced the acquisition of Argo Group International Holdings, Ltd. in an all-cash transaction valued at roughly $1.1 billion. The Boards of Directors of both Brookfield Reinsurance and Argo have unanimously approved the definitive merger ... Read the full article

Westfield completes acquisition of Lloyd’s Syndicate 1200 from Argo Group

3rd February 2023

Westfield Specialty, a US property and casualty insurer, has announced the completion of its acquisition of Lloyd’s of London Syndicate 1200 from Argo Group International Holdings. The deal was first announced in September of last year for a disclosed purchase price of approximately $125 million. At the time, Syndicate 1200 ... Read the full article

2023 set to be hardest property reinsurance market in history: Argo’s Snyder

23rd December 2022

Jessica Snyder, President, US Insurance, Argo Group, suggests that there will be an unprecedented hardening of the reinsurance markets across property and casualty lines in 2023, with ceding commissions down 2-4 points and perhaps the "hardest property reinsurance market in history." Further, Snyder notes that the evolving risk landscape will persist ... Read the full article

Argo wins Board vote after activist nominations withdrawn

16th December 2022

Argo Group International Holdings, Ltd. has reported that its nominations for members of its Board of Directors where “overwhelmingly” voted in favour of by shareholders at its annual general meeting (AGM) this week. The win followed the withdrawal of two board nominations by activist investor Capital Returns Master just days ... Read the full article

Argo challenger withdraws board nominations

13th December 2022

Argo has confirmed that activist investor Capital Returns Master has withdraw its nomination for two candidates to Argo's Board of Directors, just days before shareholders were set to vote on its composition at the company's December 15th annual general meeting (AGM). Argo and Capital Returns have been in a protracted ... Read the full article

Advisors ISS and Glass Lewis lend support to Argo Board picks

5th December 2022

Argo has announced that Institutional Shareholder Services (ISS) and Glass Lewis & Co have both recommended that Argo shareholders vote in support of all director nominees put forward by the company for election at its upcoming annual general meeting (AGM). Argo has faced pressure from activist investor Capital Returns in ... Read the full article