Reinsurance News
14th October 2019
Voce Capital Management has accused Argo Group's board of “evading responsibility” rather than acting in the best interests of the company and its stakeholders, days after the specialty re/insurer announced it had been issued with a subpoena by The US Securities and Exchange Commission. After news of the subpoena broke, Read the full article
9th October 2019
Specialty re/insurer Argo has been subpoenaed by The US Securities and Exchange Commission over compensation practices for its executives, and is now conducting an internal review. This development is the latest chapter in what started as a messy back-and-forth between Argo and its fourth-largest shareholder Voce Capital Management. The public ... Read the full article
2nd September 2019
Lloyd's of London insurer and member of Argo Group, ArgoGlobal, has announced plans to exit Syndicate 1200 underwriting operations in Asia and the majority of its hull underwriting business within the syndicate. The move comes as part of recent actions undertaken by the firm to improve profitability in the syndicate. In ... Read the full article
27th August 2019
Specialty underwriter Argo Surety, part of re/insurer Argo Group, has announced a new and increased treasury listing capacity providing the firm with the ability to consider single bonds up to $100 million. Argo Surety has also expanded its appetite to support eligible customers for an aggregate surety bond program of up ... Read the full article
9th August 2019
Specialty re/insurer Argo is to alter the way its executives are compensated, whilst also announcing a series of board proposals due to be put forward to shareholders. The move follows a messy back and forth between Argo and its fourth-largest shareholder Voce Capital Management, following accusations that the re/insurer’s Chief Executive ... Read the full article
6th August 2019
Argo Group International Holdings has reported a combined ratio of 103.4% for the second-quarter of 2019, as elevated current and prior-year losses in its international operations failed to offset improved underwriting income in the U.S. Argo's Q2 2019 combined ratio weakened from the 96.3% recorded in the second-quarter of 2018, and ... Read the full article
29th July 2019
Lloyd's of London insurer and member of Argo Group, ArgoGlobal has appointed John Moffatt as an active underwriter for Syndicate 1200, reporting to Matt Harris, group head of International operations. Moffatt's appointment remains subject to regulatory approval, and sees him move from his previous role with ArgoGlobal as the head of ... Read the full article
26th July 2019
Global specialty re/insurer Argo Group International Holdings Ltd. has revealed an expected $32.5 million hit to its second-quarter results, largely driven by reserve increases for its casualty business, as well as some current accident year losses as well. Argo warned that its second quarter of 2019 results will be impacted by ... Read the full article
17th June 2019
Specialty re/insurer Argo Group International Holdings, Ltd has adopted technology from insurtech firm AVYST to improve the efficiency of its retail distribution processes. AVYST’s bi-directional forms system, eForms Wizard, enables clients and brokers to enter risk details just once, at the source, for automatic processing by Argo. By using this technology, Argo ... Read the full article
21st May 2019
Voce Capital Management has accused Argo of underhanded tactics that the firm states underscores its "culture of deception and entrenchment", as two states revoke their prior approvals of the filing of Voce's definitive proxy statement. The latest twist in the ongoing saga between the companies has cast doubt over Voce's ability to ... Read the full article
14th May 2019
Specialty re/insurer Argo has made the decision to reduce its number of Board members following recent discussions with stakeholders and long-term shareholders. According to a proxy statement filed by the firm the move will see its Board shrink from 13 members to ten over the next three years. Argo says this decision ... Read the full article
7th May 2019
ArgoGlobal Assicurazioni S.p.A., a division of insurer and reinsurer Argo Group International Holdings, Ltd., has announced the appointment of Marco Serra as Chief Underwriting Officer (CUO), Italy. Effective immediately, Serra will be based in Rome and will report to ArgoGlobal Assicurazioni Chief Executive Officer (CEO), Giovanni Tucci. He brings more than two decades of ... Read the full article
1st May 2019
Mark Watson, the Chief Executive Officer (CEO) of Argo Group International Holdings, expects a lot of movement in the firm's reinsurance program in 2019. Speaking during the company's first-quarter 2019 earnings call, Watson discussed Argo's strong utilisation of reinsurance, underlining a number of different, determining factors around its reinsurance thinking. "One is ... Read the full article
30th April 2019
Specialty re/insurer Argo Group International Holdings has posted a net income for the first quarter of 2019 of $91.2 million, a 270% increase from Q1 2018, and a 109% jump from the previous quarter. Gross Written Premiums grew 7.1% to $760.8 million, compared to $710.5 million for the the same quarter ... Read the full article
29th April 2019
Specialty re/insurer Argo Group International Holdings has announced the appointment of Tony Cicio as Chief Human Resources Officer. Cicio has 33 years of experience and most recently served as Vice President, Human Resources at Samsung Electronics. He has also filled several senior human resources role at Danone, and has worked as Chief ... Read the full article
