Argo Group News

Private Equity Investors Pelican Ventures, J.C. Flowers Complete Ariel Re Deal

Private equity investors Pelican Ventures and J.C. Flowers & Co. have completed their acquisition of Ariel Re from Argo Group. Ariel Re underwrites a global portfolio of reinsurance products in Bermuda, London and Hong Kong through its Lloyd’s platform. Under …

Private Equity Investors Pelican Ventures, J.C. Flowers to Buy Ariel Re from Argo Group

Pelican Ventures and J.C. Flowers & Co., both private equity investors with significant insurance expertise, announced they have agreed to acquire reinsurance franchise Ariel Re from Argo Group for an undisclosed sum. Ariel Re is a global underwriter of property …

ArgoGlobal Announces Reinsurance-to-Close Deal with Legacy Specialist RiverStone

ArgoGlobal, the Lloyd’s insurer and member of Argo Group, announced a reinsurance-to-close (RITC) transaction with legacy specialist RiverStone Holdings. Upon completion of the transaction, RiverStone will undertake an RITC of ArgoGlobal’s Syndicate 1200 for 2017 and prior years with net …

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 …

New Argo Group CEO Rehnberg Aims for Transparency and Straight Shooting

Argo Group had been under fire for months over allegations that its board spent excessively on executive compensation when Kevin Rehnberg became interim CEO in November 2019. Three months later, Rehnberg was named as its full-time leader. Less than a …

Insurers Face Big Investment Losses, Trade Credit Claims from Coronavirus Crisis

Having initially brushed off the potential impact from coronavirus-linked claims, global insurers are waking up to the prospect of a double whammy – a sharp rise in payouts at a time of big investment losses. Because epidemics are excluded from …

AM Best Downgrades Argo’s Credit Ratings After a Disappointing Q4

Argo Group International Holdings, already reeling from a tough 2019 fourth quarter and year, now must deal with downgraded credit ratings from AM Best. The Bermuda-based specialty insurer and reinsurer had its long-term issuer credit ratings downgraded for the main …

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 Warns of $114M Underwriting Loss, Extra Costs From Watson’s Departure

Argo Group International Holdings Ltd. is warning that its 2019 fourth quarter will feature some “unacceptable” results, particularly a $114 million underwriting loss. Separately, there are also added expenses relating to the abrupt departure of controversial former CEO Mark Watson …

Argo to Sell Trident Public Risk Solutions to Paragon MGA

Bermuda-based global specialty lines underwriter Argo Group International Holdings has agreed to sell its Trident Public Risk Solutions brand and underwriting platform to Paragon Insurance Holdings. Trident Public Risk Solutions provides insurance and risk management services for public sector entities …