Argo US Q1 $5mn reserve charge ‘unrelated’ to Q4’s adverse development: CFO
  • X
  • LinkedIn
  • Show more sharing options
  • Print
  • X
  • LinkedIn
  • Free Trial
  • Log in

Argo US Q1 $5mn reserve charge ‘unrelated’ to Q4’s adverse development: CFO

Jairo Ibarra
May 03, 2022
  • X
  • LinkedIn
  • Show more sharing options
  • Print
  • X
  • LinkedIn
Argo group logo boardroom.jpg

Argo Group’s CFO Scott Kirk has said that the Q1 $5mn unfavorable reserve development disclosed yesterday in the firm’s US operation results was not connected to last quarter’s $132mn reserve charge that fueled activist investors’ claims that the company should be sold.

Kirk was speaking during the company’s Q1 2022 earnings call with analysts.

In Q4 2021, Argo reported that its US construction defect book had caused ~60% of adverse development.

Subscribers, log in here:

Fuel a smarter strategy with our actionable market intelligence

      • Gain a competitive edge and accelerate decision-making
      • Be empowered by insights that transform confusion to clarity
      • Uncover growth opportunities and prepare for potential threats
      • Fuel a smarter strategy for business growth
Request a free trial Already a subscriber? Log in now

Topics

News Argo Earnings
jairo ibarra/jairo ibarra ii us.png
Jairo Ibarra
Senior Reporter
Contact
Gift this article