Lloyd’s insurer Argo Group has decided to stop insuring Canada’s Trans Mountain tar sands pipeline when its current insurance policy expires on Aug. 31, 2021, following similar moves by other companies such as Zurich Insurance, Talanx and Munich Re. “This …
Bermuda-based Argo Group International Holdings Ltd. announced estimated catastrophe losses of approximately $47 million for the first quarter of 2021. Argo expects to report Q1 natural catastrophe losses of approximately $43 million, primarily related to Winter Storm Uri. Approximately half …
Private equity investors Pelican Ventures and J.C. Flowers & Co. have completed their acquisition of Ariel Re from Argo Group. Ariel Re underwrites a global portfolio of reinsurance products in Bermuda, London and Hong Kong through its Lloyd’s platform. Under …
Pelican Ventures and J.C. Flowers & Co., both private equity investors with significant insurance expertise, announced they have agreed to acquire reinsurance franchise Ariel Re from Argo Group for an undisclosed sum. Ariel Re is a global underwriter of property …
ArgoGlobal, the Lloyd’s insurer and member of Argo Group, announced a reinsurance-to-close (RITC) transaction with legacy specialist RiverStone Holdings. Upon completion of the transaction, RiverStone will undertake an RITC of ArgoGlobal’s Syndicate 1200 for 2017 and prior years with net …
Argo Group International Holdings will pay $900,000 to the Securities and Exchange Commission for failing to fully disclose perks and benefits provided to its former chief executive officer. In proxy statements filed from 2014 through 2018, Argo failed to disclose …
Argo Group had been under fire for months over allegations that its board spent excessively on executive compensation when Kevin Rehnberg became interim CEO in November 2019. Three months later, Rehnberg was named as its full-time leader. Less than a …
Having initially brushed off the potential impact from coronavirus-linked claims, global insurers are waking up to the prospect of a double whammy – a sharp rise in payouts at a time of big investment losses. Because epidemics are excluded from …
Argo Group International Holdings, already reeling from a tough 2019 fourth quarter and year, now must deal with downgraded credit ratings from AM Best. The Bermuda-based specialty insurer and reinsurer had its long-term issuer credit ratings downgraded for the main …
Argo Group International Holdings Ltd., the Bermuda-based re/insurer, announced the appointment of Thomas A. Bradley as chairman of the board of directors upon the retirement of current board chairman Gary V. Woods, whose term concludes on April 16, 2020, following …
