Hashtag: #ArgoGroupInternational
Brookfield Completes $1.1B Acquisition Of Argo
Argo Group International Holdings, Ltd. today announced the completion of Brookfield Reinsurance’s acquisition of Argo in an all-cash transaction valued at approximately $1.1 billion. A spokesperson said, “Under the terms of the transaction, Brookfield Reinsurance acquired all issued and outstanding common shares of Argo at a price of $30 per... Read more of this article
Chilson To Serve As President Of Argo Surety
Argo Group International Holdings announced Greg Chilson as president of Argo Surety, effective September 1. Mr. Chilson has served as a strategic advisor to the business since May. “Greg joins the company with a tremendous amount of industry experience as we look to build on Argo Surety’s track record as a very profitable, growth-oriented business,”... Read more of this article
Argo Shareholders Approve Proposed Merger
Argo Group International Holdings, Ltd. announced that Argo shareholders voted to approve an agreement for Brookfield Reinsurance Ltd. to acquire Argo in an all-cash transaction valued at approximately $1.1 billion. A spokesperson said, “The Merger remains subject to other customary closing conditions, including receipt of required regulatory... Read more of this article
Argo Announces Daniel Plants To Step Down
Argo Group International Holdings announced that J. Daniel Plants, a member of the Argo Board of Directors and Chairman of its Strategic Review Committee, has notified the company of his intention to step down from the Board, effective immediately. A spokesperson said, “Mr. Plants is Founder and Chief Investment Officer of Voce Capital Management... Read more of this article
Argo Group Ratings Placed Under Review
AM Best has placed Bermuda-based Argo Group International Holdings ratings “under review with developing implications” following the news that Brookfield Reinsurance Ltd. will acquire Argo Group for approximately $1.1 billion. A spokesperson said, “AM Best has placed under review with developing implications the Long-Term Issuer Credit... Read more of this article
Brookfield To Buy Argo Group For $1.1 Billion
Brookfield Reinsurance and Argo Group International Holdings, Ltd announced “they have entered into a definitive merger agreement whereby Brookfield Reinsurance will acquire Argo in an all-cash transaction valued at approximately $1.1 billion.” Sachin Shah, Chief Executive Officer of Brookfield Reinsurance, said, “The acquisition of Argo represents... Read more of this article
Argo Closes Sale Of Lloyd’s Syndicate 1200
Argo Group International Holdings, Ltd. announced the completion of its previously announced sale of Argo Underwriting Agency Limited and its Lloyd’s Syndicate 1200 to Westfield. A spokesperson said, “Argo Group International Holdings, Ltd. [Argo] announced the completion of its previously announced sale of Argo Underwriting Agency Limited... Read more of this article
Enstar Completes Loss Portfolio Transfer
Enstar Group Limited has closed its Loss Portfolio Transfer transaction with specialty insurance underwriter Argo Group International Holdings Ltd. A spokesperson said, “Enstar Group Limited announced today that one of its wholly-owned subsidiaries has closed its Loss Portfolio Transfer transaction with specialty insurance underwriter Argo Group... Read more of this article
Argo To Sell Lloyd’s Syndicate 1200 To Westfield
Argo Group International Holdings has “entered into a definitive agreement for the sale of Argo Underwriting Agency Limited and its Lloyd’s Syndicate 1200 to Westfield for total cash proceeds of approximately $125 million or 1.16x price to tangible book value or 0.81x price to book value as of first quarter 2022, subject to closing-related... Read more of this article
Snyder Appointed Argo US Insurance President
Argo Group International Holdings announced that Jessica Snyder has been appointed to serve as president, U.S. insurance, effective immediately. Ms Snyder will report to Tom Bradley, Argo’s executive chairman and chief executive officer, who said, “Jessica has extensive executive experience in the property and casualty insurance industry that... Read more of this article
Argo Issue $0.31 Per Share Cash Dividend
Argo Group International Holdings, Ltd. announced that the Board of Directors declared a quarterly cash dividend of $0.31 per share on the company’s common stock. The cash dividend will be paid on September 15, 2022 to shareholders of record on August 31, 2022. Related Stories Argo Shareholders Approve Proposed Merger Argo To Sell Lloyd’s Syndicate... Read more of this article
Argo Group Appoints Thomas Bradley As CEO
Argo Group International Holdings announced the appointment of Thomas A. Bradley as CEO, effective immediately. “Kevin J. Rehnberg, who has been out on leave for health reasons since March 2022, will no longer serve as president or CEO and will resign from the company’s board of directors, effective immediately. Bradley will also continue... Read more of this article
Argo Issue $0.31 Per Share Cash Dividend
Argo Group International Holdings, Ltd. announced that the Board of Directors declared a quarterly cash dividend of $0.31 per share on the company’s common stock. The cash dividend will be paid on June 15, 2022 to shareholders of record on May 31, 2022. Related Stories Argo Shareholders Approve Proposed Merger Argo To Sell Lloyd’s Syndicate 1200... Read more of this article
Argo Group Reports First Quarter 2022 Results
Argo Group International Holdings announced financial results for the three months ended March 31, 2022. Argo reported a net loss attributable to common shareholders of $3.6 million or $0.11 per diluted common share, for the first quarter 2022, compared to net income attributable to common shareholders of $27.2 million or $0.78 per diluted common share... Read more of this article
Argo: ‘Exploration Of Strategic Alternatives’
Argo Group International Holdings, Ltd. announced that its board of directors has “initiated an exploration of strategic alternatives” saying that “as part of this process, the board will consider a wide range of options for the company including, among other things, a potential sale, merger or other strategic transaction.” “Over... Read more of this article
Argo Reports 2021 4th Quarter, Full Year Results
Argo Group International Holdings announced financial results for the three months and year ended December 31, 2021. On February 8, 2022, the Company reported that its results for the quarter ended December 31, 2021, would be negatively affected by adverse prior year reserve development and non-operating charges. Argo reported a fourth quarter 2021... Read more of this article
