Argo Group International Holdings Ltd. announced that Argo shareholders voted to approve an agreement for Brookfield Reinsurance Ltd. to acquire Argo in an all-cash transaction valued at approximately $1.1 billion.
The merger remains subject to other customary closing conditions, including receipt of required regulatory approvals. Argo and Brookfield Reinsurance expect to complete the merger in the second half of 2023.
Argo will file the final vote results, as certified by the independent Inspector of Election, on a Form 8-K with the U.S. Securities and Exchange Commission.
Argo Group International is a U.S.-focused underwriter of specialty insurance products in the property/casualty market. Argo and its insurance subsidiaries are rated ‘A-‘ by Standard and Poor’s. Argo’s insurance subsidiaries are rated ‘A-‘ by A.M. Best. More information on Argo and its subsidiaries is available at www.argogroup.com.
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