Argo
-
Axis Capital and Argo Group shares jumped nearly 5%, while shares in Arch, Travelers and Alleghany were all up more than 3%.
-
On average, Argo underwriters commanded a 10% rate rise, and E&S lines submissions continued to increase. -
The specialty insurer’s underlying loss ratio dropped to 55.9% from 59.3% the year before.
-
Activist investor Voce had previously criticised the performance of the firm's international businesses.
-
The offering will be used to repay the remaining $125mn of a loan and provide working capital for growth.
-
The estimate is in line with Argo's earlier projection and will likely precede additional announcements from the sector in the coming weeks.
-
CEO Kevin Rehnberg continues to reshape Argo management following Mark Watson III’s departure.
-
Sources say the carrier’s group head of cyber Paul Miskovich has left his post.
-
The execs are set to leave the firm after a combined 26 years at Argo and its predecessor companies.
-
Argo has consented to a cease-and-desist order and will pay a $900,000 civil penalty.
-
The carrier’s chief executive officer said the “vast majority” of BI cover in the US has virus exclusions.
-
Core underwriting margins in the International segment remained flat YoY, while underlying results in the US weakened.
Related
-
Argo snags Vantage exec Parella as new CCO
January 07, 2025 -
Argo shelves sale of Bermuda excess insurance business
June 13, 2024