Argo

The company is not contemplating any other major structural changes.

The business – which writes professional liability, excess casualty and property - was marketed by investment bank RBC.

He brings 23 years of insurance industry experience.

Julie Saunders is Argo’s fifth recent senior hire.

Argo will initially front the business under a 100% quota agreement with ASU.

The executive expects the Bermudian to start onboarding programs later in 2024 or early in 2025.

“Unfortunately, it's a situation of getting rate to fund [the litigation costs] and being able to stay in the market long term,” Taylor told Insurance Insider US in an interview.

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In tandem, the Bermudian promoted David Corry and Greg Chilson to heads of casualty and professional lines, respectively.

Current CEO Thomas Bradley, who announced his intention to retire on the closure of the deal, will receive a one-time cash bonus of $1.2mn.

The Inside P&C news team runs you through the earnings results for the day.

The appointment follows that of Williams and Drakontaidis as head of contract surety and head of commercial surety respectively.