Reinsurance News
Argo Group
Argo to reduce size of Board as Voce dispute continues
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
Marco Serra named CUO of ArgoGlobal Assicurazioni
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
Mark Watson predicts “a lot of movement” in Argo’s reinsurance use in 2019
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
Argo posts first quarter net income of $91.2m, a 240% increase from Q1 2018
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
Argo Group hires Tony Cicio as head of HR
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
Voce accusations “simply wrong”, says Argo
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
Argo hires new Brazil CEO from Swiss Re
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
Voce Capital labels Argo expenses response as “selective” and “hair-splitting”
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
Argo calls for shareholder backing ahead of proxy vote
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
Ariel Re bolsters Marine & Energy team with appointment of David Martin
8th April 2019
Argo Group subsidiary Ariel Re has announced the appointment David Martin as Head of Marine & Energy, Reinsurance, effective immediately. Martin brings over 30 years’ experience to the role and joins from Tokio Millennium Re, where he most recently served as Head of UK underwriting. He reports to Matthew Wilken, Deputy Global ... Read the full article
Argo affirms Board appointments following latest Voce criticism
28th March 2019
Specialty re/insurer Argo Group has issued a statement defending the validity of its two most recent Board appointments after Voce Capital Management, a company that owns 5.6% of Argo’s shares, claimed the hires went against company bye-laws and Bermuda law. Argo labelled Voce’s claims “disappointing” and part of a “campaign of ... Read the full article
Voce puts forward Argo Director nominees, Board responds
11th March 2019
Voce Capital Management, owner of approximately 5.8% of Argo Group’s shares, has put forward five independent candidates for its Board of Directors two weeks after claiming Chief Executive Officer Mark E. Watson III has been perpetuating “shockingly high and shockingly inappropriate” expenses for the past decade. The nominations have ... Read the full article
Argo Group joins GBN Worldwide re/insurance network
11th March 2019
Specialty re/insurer Argo Group International Holdings has announced that it has become a member and network partner of GBN Worldwide, a global network of re/insurers, independent brokers, and specialty suppliers. Operating in more than 140 countries, brokers and local insurance companies in the GBN network grant partners mutual market access across ... Read the full article
Argo labels CEO criticisms “misleading, inaccurate”
26th February 2019
Recent claims that Argo Group Chief Executive Officer Mark E. Watson III has perpetuated “shockingly high and shockingly inappropriate” expenses over the past decade have been labelled misleading and inaccurate by the company. In a statement released this morning Argo accused Voce Capital Management (Argo’s fourth-largest shareholder) of ignoring the ... Read the full article
Argo CEO under expenses fire from fourth-largest shareholder
25th February 2019
Argo Chief Executive Officer Mark E. Watson III has been accused of perpetuating “shockingly high and shockingly inappropriate" corporate expenses over the past decade by Voce Capital Management LLC, the owner of approximately 5.8% of Argo Group’s shares. Voce, whose 1.9 million shares in Argo make them the fourth-largest shareholder, argues ... Read the full article