Voce Capital Management News

Argo Ex-CEO Watson to Pay $450K to SEC for Not Disclosing $5.3M in Personal Perks

The Securities and Exchange Commission has settled with former Argo Group chief executive officer and president Mark Watson III over his role in the firm’s failure to disclose more than $5.3 million worth of perks and personal benefits. The SEC …

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 …

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 Group Under SEC Scrutiny Over Executives’ Compensation

Argo Group International Holdings Ltd. has been subpoenaed by U.S. securities regulators about perks for its executives and is conducting an internal review. The U.S. Securities and Exchange Commission is seeking documents focused on Argo’s disclosures about executive compensation, the …

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 …