Reinsurance News
Argo Group
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
Argo reaches agreement to sell Trident Public Risk Solutions to Paragon
7th February 2020
Argo Group International Holdings, Ltd. has announced that Paragon Insurance Holdings, LLC is to acquire its Trident Public Risk Solutions brand and underwriting platform. It's expected that the deal will complete in the coming months, and insurer and reinsurer Argo expects to report a pre-tax gain of around $37 million related ... Read the full article
ArgoGlobal bolsters leadership team with dual hires
14th January 2020
Lloyd's of London insurer and Argo Group subsidiary ArgoGlobal has added Jeremy Shallow as head of international specialty and Ross MacDonald as head of non-US international casualty. Both appointments are effective immediately and will report to John Moffatt, active underwriter of Syndicate 1200 and Nigel Mortimer, head of international casualty, respectively. Shallow ... Read the full article
Five long-standing Argo board members to step down
12th December 2019
Five members of Argo’s board are set to retire amid an ongoing “refreshment process” seemingly brought about by pressure from shareholder Voce Capital Management and a subpoena issued by The US Securities and Exchange Commission. The specialty re/insurer says its board is engaged in a "national executive search firm ... Read the full article
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