Mark E. Watson III News

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 …

AM Best Reviews Argo Group’s Ratings in Reaction to SEC Probe, Watson Exit

AM Best has placed the credit ratings of Argo Group International Holdings Ltd. and its subsidiaries under review with negative implications. These actions are a reaction to the sudden departure of Mark E. Watson III, Argo’s chief executive officer, but …

Argo Group CEO Watson Steps Down as SEC Continues Its Probe of Insurer

Argo Group International Holdings Ltd. announced the retirement of Mark E. Watson III as chief executive officer, effective immediately. Kevin J. Rehnberg has been named interim chief executive officer, subject to Bermuda regulatory approval. Watson’s exit comes on the heels …

Argo Shareholder Voce Ends Battle over Board Members, Alleges ‘Underhanded Tactics’

An activist Argo shareholder that had accused the insurer of extravagant spending and other corporate missteps has ended its battle to nominate a slate of new board members. Voce Capital Management said on May 21 it has withdrawn its nominations …

Activist Hedge Fund Voce Urges Argo to Cut $100M in Expenses, Nominates Directors

An activist hedge fund on Tuesday nominated five directors and urged insurance company Argo Group International Holdings Ltd to cut $100 million in expenses, including corporate jets and housing for its chief executive. Voce Capital Management LLC wants Argo shareholders …

Battle of Words Continues Between Argo Group and Activist Shareholder

An activist Argo Group shareholder accuses the company of using a corporate jet for 1,500 flights in recent months and questions whether the trips were exclusively for business purposes. So goes the latest salvo fired against the company in advance …

Shareholder Accuses Argo Group of Illegally Appointing Two Board Members

An Argo Group shareholder accusing the company and CEO Mark Watson III of extravagant spending practices now claims that the carrier illegally appointed two board members. Argo disagreed, continuing a very public battle between Voce Capital Management LLC and itself …

Argo Shareholder Accuses CEO Watson of ‘Shockingly High’ Corporate Expenses

An Argo Group shareholder is nominating four new directors to counter what it alleges are “shockingly high” corporate expenses including pricey real estate, an office art collection, and CEO Mark Watson III’s personal use of company-owned aircraft and housing. Argo, …

Argo Estimates Losses from Q4 Natural Catastrophes, Other Claims to Hit $44M

Argo Group International Holdings, Ltd., the Bermuda-based re/insurer, announced a preliminary pre-tax catastrophe loss estimate of $32 million for the fourth quarter of 2018, primarily related to Hurricane Michael and the California wildfires. Additionally, the company’s fourth quarter 2018 results …

Everest Re and Argo Report Net Catastrophe Loss Estimates for Q3 2018

Everest Re Group Ltd. and Argo Group International Holdings Ltd. announced their preliminary pre-tax catastrophe loss estimates for the third quarter, ended Sept. 30, 2018. Bermuda-based Everest Re’s estimated catastrophe loss was $240 million, net of reinsurance. The estimate includes …