Argo Reports 2021 Second Quarter Results
Argo Group International Holdings, Ltd. announced financial results for the three and six months ended June 30, 2021.
Argo reported second quarter 2021 net income attributable to common shareholders of $67.1 million or $1.92 per diluted common share, compared to a net loss attributable to common shareholders of $5.4 million or $[0.16] per diluted common share for the 2020 second quarter.
Operating income in the second quarter of 2021 was $56.1 million or $1.60 per diluted common share, compared to an operating loss of $3.6 million or $0.10 per diluted common share for the 2020 second quarter.
“Argo reported its highest quarterly operating income in more than ten years during the second quarter as a result of our focus on disciplined underwriting and strong investment contributions,” said Argo Chief Executive Officer Kevin J. Rehnberg. “Our targeted growth efforts have accelerated across the company during 2021 and we remain optimistic about current market conditions and underwriting opportunities.
“We continue to focus on our strategic priorities of improving underwriting margins, reducing volatility and managing expenses. All of this is focused on generating superior shareholder returns over time.”
