Reinsurance News
Argo
Investors seek to instate new Argo directors to “unlock value”
20th October 2022
Activist investors are seeking shareholder support to elect two new directors to Argo’s Board in order to address what they label as “years of underperformance and poor decision-making” at the company. Capital Returns Master, Ltd., a Cayman Islands exempted company, and other participants want to see the new directors approved at ... Read the full article
Westfield Specialty acquires Argo’s Lloyd’s Syndicate 1200 in $125m deal
8th September 2022
Westfield Specialty, a U.S. property and casualty insurer, has accelerated its "rapid growth" with the acquisition of Lloyd's Syndicate 1200 from Argo Group International Holdings, marking its entry into the international specialty market. The deal remains subject to regulatory approval but is expected to close in the first half of next ... Read the full article
Enstar in US casualty LPT deal with Argo
9th August 2022
Enstar Group has announced that it has entered into a major loss portfolio transfer (LPT) deal with specialty insurance underwriter Argo Group International Holdings. Under the terms of the LPT, Enstar will reinsure a number of Argo's direct U.S. casualty insurance portfolios, including construction, relating to accident years 2011 to 2019. A ... Read the full article
Argo confirms Thomas A. Bradley as CEO
24th June 2022
Argo has appointed Thomas A. Bradley to be its new CEO, replacing Kevin J. Rehnberg. Bradley served as Argo’s chairman since 2020 and has been serving as interim CEO since March 2022. He becomes CEO, effective immediately. Bradley will also continue in his role as executive chairman of the board ... Read the full article
Appetite for underwriting property cat reinsurance business tightening
1st June 2022
Earnings pressure and ongoing uncertainty around the impact of climate change is reducing the appetite for underwriting property catastrophe reinsurance business, says the newest edition of Aon’s Reinsurance Aggregate (ARA). The study said that while the sector should be ‘applauded’ for dealing with significant volatility over the last five years and ... Read the full article
Argo falls to net loss despite underwriting improvement
3rd May 2022
Bermuda-based property and casualty insurer Argo Group has reported a net loss of $3.6 million for the first quarter of 2022, down from net income of $27.2 million for the same period last year. This was despite underwriting income moving from a net loss of $17.9 million last year to a ... Read the full article
Argo exploring options including sale and merger
28th April 2022
Argo has said its board of directors has begun to explore ‘strategic alternatives’ including a potential sale, merger, or other strategic transaction. The board also announced the postponement of Argo’s 2022 annual general meeting of shareholders until the second half of this year. The board believes it is in the best ... Read the full article
Argo’s AM Best BCAR score lowered on reserve development
13th April 2022
Ratings agency AM Best has revised down its assessment of Argo Group's balance sheet strength from the strongest level to very strong, which reflects a lower Best Capital Adequacy Ratio (BCAR) score on the back of adverse reserve development. On February 9th, 2022, Argo pre-announced that up to $140 million ... Read the full article
Argo considers activist investor board nominations
14th March 2022
Bermuda-based property and casualty insurer Argo Group has said that it "has interviewed and is in the process of evaluating" two director candidates for its board of directors, nominated by activist investor Capital Returns Management. Capital Returns is currently one of Argo's largest shareholders among actively managed funds and says it ... Read the full article
Argo Group reports latest numbers, will continue to focus on reducing volatility
25th February 2022
Argo Group has reported that its net earned premiums increased 4.2% in Q4 2021 in its latest quarterly release of results. The announcement, which came this week, also saw the insurer state that its total catastrophe losses for Q4 2021 being $6.8m, down from $51m in Q4 2020. Full-year catastrophe losses ... Read the full article
Argo’s Q1 net profit improves to $27.2m despite higher cat losses
4th May 2021
Argo Group International Holdings, Ltd. has reported net income of $27.2 million for the first quarter of 2021 against a net loss of $24.7 million a year earlier, despite elevated catastrophe losses during the period. At the same time, Argo has reported an increase in operating income from $12.5 million in ... Read the full article
Argo announces Q1 nat cat & COVID losses of $47m
22nd April 2021
Bermuda-based insurer and reinsurer, Argo Group International Holdings, Ltd., has announced catastrophe and pandemic-related losses of an estimated $47 million for the first-quarter of 2021, primarily as a result of winter storm Uri in the U.S. Argo estimates that approximately $43 million of its first-quarter catastrophe bill relates to the impacts ... Read the full article
Argo facing operational challenges due to Uri, says S&P
8th March 2021
Analysts at S&P Global Ratings believe that specialty re/insurer Argo is likely facing operational challenges following Winter Storm Uri. Argo delayed the reporting its year-end 2020 audited annual financial statements, although S&P clarified that the action had no immediate impact on ratings Instead, the rating agency explained that the delay is primarily ... Read the full article
Argo received $30m for Ariel Re sale
25th November 2020
Specialty insurer and reinsurer, Argo Group International Holdings Ltd., has confirmed that it received $30 million at the closing of its sale of Ariel Re to private equity investors Pelican Ventures and J.C. Flowers & Co. It was announced earlier today that the two private equity investors have now completed ... Read the full article
Argo completes sale of Ariel Re to Pelican Ventures and J.C. Flowers
25th November 2020
Private equity investors, Pelican Ventures and J.C. Flowers & Co., have completed their previously announced acquisition of Ariel Re from Argo Group International Holdings. Founded in 2005, Ariel Re had been part of Argo Group since 2017. The company underwrites a global portfolio of reinsurance solutions in Bermuda, London and ... Read the full article
- ← Previous
- 1
- 2
- 3
- 4
- Next →
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
