The Bermuda-based Argo Group International Holdings, Ltd. announced that all conditions of its acquisition of Heritage Underwriting Agency plc. have been satisfied or waived and, as a result, its offer is wholly unconditional and the transaction has been effectively completed.
Argo announced its offer for the Lloyd’s agency in April (See IJ web site – https://www.insurancejournal.com/news/international/2008/04/03/88803.htm).
Argo’s President and CEO Mark E. Watson III, expressed his pleasure at the closing and indicated that the “acquisition of Heritage is an important step in our evolution as a leading international specialty underwriter and one that brings with it increased opportunities for product and market growth and development and profitable returns for our shareholders, clients and employees.”
Source: Argo Group – www.argolimited.com
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