Argo Group Reports 2021 First Quarter Results

Argo Group International Holdings, Ltd. (NYSE: ARGO) ("Argo" or the "Company") today announced financial results for the three months ended March 31, 2021. Argo reported first quarter 2021 net income attributable to common shareholders of $27.2 million or $0.78 per diluted common share, compared to a net loss attributable to common shareholders of $24.7 million or $(0.72) per diluted common share for the 2020 first quarter. Operating income in the first quarter of 2021 was $15.5 million or $0.44 per diluted common share, compared to operating income of $12.5 million or $0.36 per diluted common share for the 2020 first quarter.

"We are pleased with the improved underlying combined ratio of 93.4% during the quarter, which was our strongest result since 2016," said Argo Chief Executive Officer Kevin J. Rehnberg. "We believe the improvement in underwriting results this quarter is further evidence that the actions we have taken over the last two years are the right ones. This positive momentum is supported by our expense focus and positions us to take advantage of market opportunities and execute on our targeted growth strategy.

“While the first quarter included elevated catastrophe losses, we have made good progress on reducing our property exposure. We expect the majority of our targeted actions to be completed ahead of U.S. wind season. This will reduce our exposure to future events.”

 

First Quarter Consolidated Operating Highlights
$ in millions		Three Months Ended March 31,								Y/Y
Consolidated		2021				2020				Change
										Argo Group International Holdings, Ltd. NYSE:ARGO ARGO Rankings N/A Ranked by Market Cap N/A Ranked by Dividends ARGO Latest News Nov 16, 2023 Brookfield Reinsurance Completes $1.1 Billion Acquisition of Argo Group Nov 8, 2023 Argo Group Reports Third Quarter 2023 Results Aug 21, 2023 Greg Chilson to Serve as President of Argo Surety Aug 7, 2023 Argo Group Reports Second Quarter 2023 Results Jul 25, 2023 Argo Group Schedules Second Quarter 2023 Earnings Release ARGO Stock Data Market Cap 1.06B Float 29.56M Insiders Ownership 0.4% Institutions Ownership 114.36% Short Percent 4.4% Industry Direct Property and Casualty Insurance Carriers Sector Finance and Insurance Website Link Country BERM City Pembroke About ARGO argo group international holdings, ltd. (nasdaqgs: agii) is an international underwriter of specialty insurance and reinsurance products in areas of the property and casualty market. through its operating subsidiaries, argo group offers a comprehensive line of high-quality products and services designed to meet the unique coverage and claims-handling needs of its clients in four business segments. excess & surplus lines focuses on risks that the standard (admitted) market is unwilling or unable to underwrite because of the nature of their businesses, their particular risk exposures or their loss histories. commercial specialty provides standard-market property and casualty insurance and surety coverages to highly specialized commercial and public entities. our international specialty segment writes both insurance and reinsurance business worldwide through the broker market, with offerings including specialty property catastrophe reinsurance along with excess casualty and professional Explore About Rhea-AI Sitemap Legal Terms of Use Cookie Notice Privacy Policy Links RSS feed Patreon Discord Server Facebook Reddit © 2020-2024 StockTitan.net