Argo
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The company provided confirmation of its work to break up international and a $100mn expense reduction target. -
The disposal plans are the latest of a string of restructuring measures under the leadership of CEO Kevin Rehnberg.
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The international segment’s underlying loss ratio improved by 15 points to 50%.
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Ariel Re will focus on key lines of business, including cat, retro, marine and professional lines.
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The insurer will cut 20 jobs as a result of the run-off plan.
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The Bermudian is expecting to pay $17mn in third quarter Covid-19 claims.
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Chris Sitowski joins the carrier from Chubb North America.
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Former RenaissanceRe CEO and founder Jim Stanard looks set to pick up the reinsurance platform.
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The funding for the deal was set to come from Cantor Fitzgerald and its billionaire CEO Howard Lutnick.
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Inside P&C takes a deep dive into the carrier’s prospects almost a year after Watson’s exit.
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He has joined the carrier as a senior vice president of underwriting.
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This publication reported in June that the Bermuda-based company had withdrawn from writing open market SME cyber business.
Related
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Argo snags Vantage exec Parella as new CCO
January 07, 2025 -
Argo shelves sale of Bermuda excess insurance business
June 13, 2024