Spencer to Replace Spiller as Argo International’s Non-Exec. Chairman

February 16, 2011

Argo Group International Holdings announced from its London headquarters that John Spencer will take over as non-executive chairman of Argo Managing Agency, Ltd., which conducts business under the trade name, Argo International.

He will replace David Spiller as non-executive chairman. Argo said Spiller had “decided to step down as chairman as he works to finalize another industry opportunity.” Spencer is currently a non-executive director of the Argo International board.

“Leading the board of Argo International has been a rewarding experience,” Spiller stated. He also indicated that it had been planned that Spencer, who joined Argo International’s board in 2008, “would eventually step into the chairman role. He takes on this leadership position at an exciting time and will continue to provide strong support for the management team.” Spiller has agreed to stay on as a non-executive director while a search is conducted for a new director.

Spencer’s appointment, which is slated to take effect immediately, still awaits approvals from the UK’s Financial Services Authority (FSA) and Lloyd’s.

Argo Group President and CEO Mark E. Watson III described Spiller’s tenure as having been “instrumental in charting the strategic direction of Argo’s Syndicate at Lloyd’s,” and wished him future success.

The announcement also noted that “Spencer has served as a non-executive director of the Argo International board since 2008. He also sits on the boards of Ultimate Risk Solutions LLC and Newline Underwriting Management Ltd., and is an advisory director of SFRi LLC. Previously, he was chief executive officer of BMS Group, the specialist insurance and reinsurance broker.

Source: Argo International

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