Argo burns through more than half of $75mn Enstar loss corridor
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Argo burns through more than half of $75mn Enstar loss corridor

Jairo Ibarra
November 08, 2022
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Argo has recognized $37.7mn of prior year development (PYD) in the first nine months of 2022, which falls within the retained loss corridor of $75mn in the loss portfolio transfer (LPT) deal the specialty insurer struck with Enstar in Q2 for its US insurance back-book.

During a Q3 earnings call with analysts, CFO Scott Kirk said Argo has $37.3mn of the remaining corridor left until the insurer reaches the $275mn covered layer of the LPT.

“In

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Jairo Ibarra
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