Reinsurance News
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
25th April 2019
Specialty re/insurer Argo has labelled the latest criticisms from Voce Capital Management, a 5.6% shareholder in the company, as “misleading” and “simply wrong." A back-and-forth between the two companies has been ongoing since February, when Voce accused Argo’s Chief Executive Officer (CEO), Mark E. Watson III of perpetuating “shockingly high ... Read the full article
25th April 2019
Argo Seguros, the Brazilian underwriter of specialty insurance and reinsurance products and a member of Argo Group, has announced the appointment of Newton Queiroz as Chief Executive Officer (CEO), effective May 1, 2019. Queiroz joins Argo Seguros from Swiss Re Corporate Solutions, where he most recently worked as CEO of Mexico ... Read the full article
24th April 2019
Voce Capital Management has addressed Argo Group's response to accusations it misused corporate assets, labelling provided explanations "selective" and "hair-splitting". The war of words between Argo and Voce Capital, which has a 5.6% share in Argo, started in February 2019, when Voce accused Argo's Chief Executive Officer (CEO), Mark E. Watson ... Read the full article
12th April 2019
Specialty re/insurer Argo has called on shareholders to vote down Voce Capital’s previously-announced Board nominations, describing the proxy contest as an attempt to push a “short term agenda.” Voce, whose 1.9 million shares in Argo make them the fourth-largest shareholder, first sparked a war of words when in February when ... Read the full article
