The Bermuda-based Argo Group International Holdings has announced the launch of Argo Financial Products Limited (Argo Financial). The unit will be based in London and will “specialize in a broad array of financial lines products including directors’ and officers’ liability, public offering of securities insurance, employment practices liability, pension trustee liability, crime, and bond and professional indemnity for financial institutions,” said the bulletin. It will focus on non-US domiciled insureds and will offer limits of up to £10 million (app. $16.3 million).
Argo said its Financial Products will be underwritten “through Heritage, formerly Heritage Underwriting Agency Limited, which this year became a subsidiary of Argo Group. Argo Financial underwriters initially will be seconded to Syndicate 1200 and will operate from the syndicate’s box on the first floor of the Lloyd’s building (in addition to 70 St Mary Axe) with full access to the Syndicate’s panel of brokers.”
Colin Thompson will lead the Financial Products underwriting team. “In addition, Argo Financial’s Board of Directors will consist of Joint Active Underwriter with Syndicate 1200 Mark Lawrence, Ian Whistondale, formerly of Lloyd’s broker Whistondale and Partners, and Hugh Morland, previously CEO of both CNA Insurance Company (Europe) Limited and of Bowring Marsh and McLennan’s Finpro Division,” the bulletin noted.
Financial Products contacts are:
Mark Lawrence 0207 712 7600 mlawrence@argofinancialproducts.com
Colin Thompson: 0203 102 4273 cthompson@argofinancialproducts.com
Source: Argo Group International Holdings – www.argolimited.com
Topics New Markets
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