Welcome to our dedicated page for Argo Group Intl news (Ticker: ARGO), a resource for investors and traders seeking the latest updates and insights on Argo Group Intl stock.
Argo Group International Holdings, Inc. (“Argo”) is an underwriter of specialty insurance products in the property and casualty market. Company news releases describe Argo as focusing on business customers, with a U.S.-focused specialty property and casualty strategy and a surety business that has been the subject of dedicated leadership appointments and partnerships.
The ARGO news feed on Stock Titan aggregates company-issued announcements and market disclosures that explain how Argo’s specialty insurance operations are evolving. These items include quarterly and annual financial results, where Argo reports on gross written premiums, net written premiums, earned premiums, loss ratios, expense ratios, combined ratios, catastrophe losses, and reserve development. Such releases provide insight into underwriting performance, the impact of catastrophe events, and the effect of business exits and disposals on international and U.S. operations.
News coverage also reflects major corporate events. A Business Wire release dated November 16, 2023, reports the completion of Brookfield Reinsurance’s all-cash acquisition of Argo and notes that Argo’s common shares ceased trading on the New York Stock Exchange. Subsequent announcements describe leadership changes, including appointments to the chief executive officer and chief financial officer roles, and highlight Argo’s positioning as a U.S.-focused specialty property and casualty company within its new ownership structure.
In addition, Argo has issued releases on strategic initiatives such as its partnership with Trisura Group to support surety underwriting operations and its later announcement of the full redemption and planned delisting of its Series A preferred stock depositary shares and Argo Group US, Inc.’s 6.500% Senior Notes due 2042. For investors and observers, following ARGO news offers a view into Argo’s financial performance, capital structure changes, ratings disclosures, and strategic direction as part of the Brookfield-related insurance platform.
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Argo Group International Holdings, Ltd. (NYSE: ARGO) is urging shareholders to vote "FOR" its seven director nominees on the BLUE proxy card ahead of the Annual Meeting on December 15, 2022. The Company is conducting a strategic review, exploring potential sale options and evaluating over 80 interested parties with assistance from Goldman Sachs. The Board believes their nominees possess the expertise necessary for maximizing shareholder value and opposes Capital Returns' nominees, claiming they could disrupt the review process. Argo is focused on becoming a streamlined U.S.-centric specialty insurer.
Capital Returns Management urges shareholders of Argo (NYSE: ARGO) to vote for its candidates Ron Bobman and Dave Michelson in a bid to reform the board of directors. A presentation highlights Argo's underperformance and mismanagement, including poor strategic decisions and inadequate succession planning. Capital Returns emphasizes the need for new leadership, claiming the current board has failed to reposition the company effectively, resulting in shareholder losses. The candidates are industry veterans, poised to bring fresh perspectives and expertise to Argo's governance.
Argo Group International Holdings (NYSE: ARGO) is urging shareholders to vote for its seven director nominees in the upcoming Annual Meeting on December 15, 2022. The company emphasizes the board's relevant expertise, particularly of nominees Bernard Bailey and Al-Noor Ramji, essential for overseeing its strategic review and transformation into a U.S. specialty insurer. The board believes that opposing nominees from Capital Returns would dilute expertise and diversity, questioning Capital Returns' commitment as a long-term investor due to their stock sales since April 2022.
Argo Group International Holdings announced its Q3 2022 financial results, showing a significant net loss of $51.4 million per diluted share, compared to a profit of $19.8 million in Q3 2021. Despite a 2% increase in U.S. earned premiums and a 14% growth in ongoing business, overall gross written premiums fell by 14.2% to $750.9 million. The company reported a reduced expense ratio of 35.4% and lower catastrophe losses of $23.4 million, reflecting its strategy to mitigate risk. Additionally, the sale of Argo Underwriting Agency and Syndicate 1200 is poised to further streamline operations.
Argo Group International Holdings, Ltd. has declared a quarterly cash dividend of
Argo is rated 'A-' by both Standard and Poor's and A.M. Best, indicating stable financial strength.
Capital Returns Management has filed a definitive proxy statement urging Argo Group shareholders to elect its nominees, Ronald Bobman and David Michelson, at the Annual General Meeting on December 15, 2022. Capital Returns criticizes the current Board for destroying over $1.5 billion in shareholder value, with Argo's stock down 64% over the past three years. They argue that the Board lacks relevant insurance expertise and has made poor operational decisions, advocating for fresh perspectives to reverse underperformance and enhance shareholder value.
Argo Group International Holdings, Ltd. (NYSE: ARGO) has filed definitive proxy materials with the SEC for the annual general meeting on December 15, 2022. Shareholders of record by October 26, 2022 can vote on key issues, including the board nominees. Highlights include a 10.9% compounded annual growth rate from 2019-2021, reduced catastrophe losses of $2.5 million in Q2 2022, and a focus on profitable U.S. specialty insurance. Additionally, recent transactions aim to transfer approximately $954 million in net reserves, enhancing financial stability.
Argo Group International Holdings (NYSE: ARGO) will disclose its third quarter 2022 financial results after U.S. markets close on November 7, 2022. An investor conference call is scheduled for November 8, 2022, at 10 a.m. EST, accessible via a live webcast or by phone for participants in the U.S. and internationally. The company specializes in specialty insurance products within the property and casualty market and maintains strong ratings of 'A-' by Standard & Poor's and A.M. Best.
Westfield announced its entry into the international specialty market by acquiring Lloyd’s of London Syndicate 1200 from Argo Group International Holdings (NYSE: ARGO) for approximately $125 million. This strategic move follows Westfield's successful first year in the U.S. specialty market. The acquisition, subject to regulatory approval, positions Westfield to manage a substantial $650 million book of business. With industry veterans leading the initiative, Westfield aims to write an estimated $250 million in premiums during its first full year of operation.