Argo Group International Holdings News

Argo’s Q4 2020 Losses from Natural Disasters and COVID-19 Estimated at $51M

Argo Group International Holdings Ltd. estimates losses from fourth quarter 2020 natural catastrophes and the COVID-19 pandemic will hit $51 million. Breaking down the overall total, Bermuda-based Argo expects to report Q4 natural catastrophe losses of approximately $38 million, primarily …

Argo Group Agrees to Sell Its Italian Business

Argo Group International Holdings Ltd., a Bermuda-based underwriter of specialty insurance products, announced an agreement to sell its Italian operations, ArgoGlobal Assicurazioni S.p.A (AGA) to Perfuturo Capital AG, a Swiss holding company. Perfuturo is fully owned by Philantra Holding AG …

Argo Group Estimates $71M in Catastrophe, COVID Losses During Third Quarter

Argo Group International Holdings Ltd. announced that its results for the third quarter of 2020 will be adversely affected by estimated losses of $71 million related to various natural catastrophe events and the continued impact of the COVID-19 pandemic. The …

Argo’s CFO to Depart as Insurer Updates Executive Leadership Team

Argo Group International Holdings Ltd., the Bermuda-based specialty re/insurer, announced an update to senior leadership team responsibilities and the launch of an outside search for a chief financial officer to succeed Jay S. Bullock, who is leaving the company. “Earlier …

Argo Group to Pay $900,000 to SEC for Failing to Fully Disclose CEO Perks

Argo Group International Holdings will pay $900,000 to the Securities and Exchange Commission for failing to fully disclose perks and benefits provided to its former chief executive officer. In proxy statements filed from 2014 through 2018, Argo failed to disclose …

Argo Group Appoints Bradley as Chairman; Rehnberg Named CEO

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 and Shareholder Voce Lay Down Their Swords, Agree to 3 New Board Members

Argo Group International Holdings Ltd., the Bermuda-based re/insurer, announced it has agreed with activist shareholder Voce Capital Management to change the composition of Argo’s board with the addition of three new directors. The agreement ends a contentious dispute with Voce, …

5 Argo Group Directors Will Retire; Early Annual Meeting Planned

Five Argo Group directors plan to retire as of the beleaguered company’s 2020 annual meeting, the company disclosed on Dec. 11. Argo, a Bermuda-based specialty insurer and reinsurer, said that the decision is part of a “proactive refreshment process” announced …

Argo Activist Shareholder Voce Renews Battle to Elect Independent Board Members

Activist shareholder Voce Capital Management LLC is renewing its fight with the board of Argo Group International Holdings Ltd. This time, Voce is calling for a special meeting of Argo shareholders to elect five independent board members. Argo has been …

Investors React Positively to Argo CEO’s Exit, Despite Q3 Net Loss

The day after Argo Group International Holdings announced CEO Mark Watson III was retiring “immediately,” investors seemed ecstatic, driving the company’s stock price up 5.6 percent on Nov. 6. Watson’s departure as CEO is a good thing for the bigger …