Argo Group International Holdings Ltd., the Bermuda-based underwriter of specialty insurance and reinsurance, announced that former Ariel Re chief executive officer, Ryan Mather, will serve as Argo’s global head of reinsurance, leading all reinsurance operations.
The company’s reinsurance business will operate under the Ariel Re brand as a member of Argo Group. (Argo announced on Feb. 6 that its $235 million acquisition of Ariel Re had been completed.)*
“Ariel Re and Argo Group are a terrific fit – operationally and culturally,” says Argo Group CEO Mark E. Watson III. “Ryan’s leadership and collaboration were key factors in our ability to finalize this agreement and begin implementing the company’s integration plan so swiftly. This is reflective of the teamwork and outstanding results we expect to see in the future.”
Mather will report directly to Jose A. Hernandez, head of Argo Group’s International Business.
“This transaction improves the company’s ability to manage through changing market cycles,” said Hernandez.
“It also adds new capabilities that can be leveraged throughout the entire organization, including Ariel Re’s unique modeling and risk analysis tools, which enhance Argo’s already robust underwriting analytics,” he said.
“Under Ryan’s leadership, Ariel Re and Argo Re have combined to become a market-leading business and will make a meaningful and immediate contribution to earnings and return on equity,” Hernandez added.
* Ariel Re was purchased from Banco BTG Pactual S.A. and the Abu Dhabi Investment Council.
Topics Reinsurance
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