Argo

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.

The ratings agency has placed under review with developing implications Argo’s A- financial strength ratings, as well as its credit ratings.

Inside P&C’s news team runs you through the key highlights of the week.

Analysis of Argo’s valuation suggests this is a rich multiple when accounting for potential reserving noise.

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

The reinsurer said in its Q4 earnings call that Argo’s takeover further diversifies its operations and adds a foundational piece to its expanding P&C activity in the US.

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

The consideration represents a 48.7% premium to Argo’s share price before the sale of its Lloyd’s business.

Inside P&C’s news team runs you through the key highlights of the week.

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