Argo

Inside P&C’s morning summary of the key stories to get you up to speed fast.

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

Argo has also hired former RLI surety head Greg Chilson as an adviser.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

The charge was related to a reassessment of potential claims in professional lines, mostly from accident years 2019 and prior, and to losses from businesses Argo has exited.

The companies expect to complete the transaction in the second half of the year, subject to regulatory approvals and customary closing conditions.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Argo’s first bids included an implied firm value of $49.71 per Argo common share and $40 per share in cash, among others.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

The firm’s US unit recorded $36.6mn of net unfavorable development in Q4 2022, compared with a $121.6mn charge in Q4 2021.

S&P said the change reflected uncertainty around Argo’s risk appetite following its $1.1bn acquisition by Brookfield Reinsurance.

The member joined the board in August 2022, two and a half years after ending his activist campaign against the carrier’s management.