Operations/tech

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

The members were unanimously selected by the board as part of its multi-year succession planning process.

Even if venture debt has always been around, sources said InsurTechs are approaching the market in different ways, as they struggle to raise equity rounds at attractive valuations.

The carrier has called this month’s vote ‘a critical moment in Argo’s history’.

The new consulting arm will be led by Risk Strategies executive vice president John Greenbaum.

The amount will be paid in one installment of $200,000, two of $100,000 and a final $175,000 payment over the next 18 months.

The severance package will be paid in three separate installments of $250,000 over the next 18 months.

The activist investor’s statement comes as a reaction to Argo’s message to investors last Friday ahead of the carrier’s annual shareholder meeting.

The carrier is urging shareholders to appoint all seven of its nominees to the board in an annual meeting next month, amid activist investor pressure.

In addition, the executive will be eligible to participate in the company's long-term incentive program with a target grant date value of $11.1mn.

Since joining the company in 2017, the executive has helped to spearhead a turnaround in performance for the carrier.

The Bermudian claimed Ron Bobman and David Michelson’s directorship would ‘diminish’ the board’s capabilities and expertise.