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 Argo’s annual general meeting.
In addition, Kevin J. Rehnberg has been named chief executive officer, effective immediately, and has been nominated to stand for election to the company’s board of directors at the company’s annual meeting.
Rehnberg was named interim CEO when the company’s previous CEO, Mark E. Watson III, abruptly retired in November 2019 after reports that the U.S. Securities and Exchange Commission had moved to investigate the company’s disclosures about executive compensation.
The company announced in December that five of its directors would retire by the time of the 2020 AGM. The changes in Argo’s executive team followed months of complaints by activist shareholder Voce Capital Management LLC about alleged excessive corporate expenses for CEO Watson.
Thomas A. Bradley’s Biography
Bradley became a director for Argo Group in 2018 after retiring from Allied World Assurance Co. Holdings AG in 2017, where he had served as chief financial officer and executive vice president since 2012. He was previously executive vice president and chief financial officer at two other public companies: Fair Isaac Corp. and The St. Paul Companies. He held senior financial and operational positions at Zurich North America.
CEO Kevin J. Rehnberg’s Biography
Rehnberg has been with the company for seven years. Prior to becoming CEO, Rehnberg had been interim CEO since November 2019. In January, he was appointed as Argo’s chief administrative officer and the head of the Americas business.
From March 2013 to January 2019, he was president of Argo’s U.S. Operations, overseeing all activities of Argo’s U.S.-based business segments. Before joining Argo, Rehnberg served as executive vice president for specialty lines at OneBeacon Insurance, where he oversaw specialty underwriting operations and acquired and built new lines of specialty business. Prior to that, he held positions at The St. Paul Travelers Cos., Liberty International and Chubb Corp.
“On behalf of the entire board, I would like to sincerely thank Gary for his commitment and contributions to Argo, providing leadership as the company has expanded from a very small regional insurer generating approximately $300 million in gross written premium to a strong specialty insurer exceeding $3 billion in annual gross written premium,” said Bradley.
“Kevin has led with confidence and integrity as interim CEO during a time of tremendous change,” he added. “The board believes that as CEO Kevin will lead Argo toward a stronger and more profitable future.”
Source: Argo Group International Holdings Ltd.
Topics USA
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