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.
Argo Group International Holdings, Ltd. (NYSE: ARGO) reported a net loss of $3.6 million or $0.11 per diluted share for Q1 2022, a significant decline from the $27.2 million profit in Q1 2021. Net earned premium grew by 3.1%, while the combined ratio improved to 95.0%, down 8.8 points year-over-year. Operating income surged to $43.4 million, reflecting a robust operating return on equity of 11.4%. Catastrophe losses decreased to $8.7 million, a drop of $38.8 million compared to the previous year. Despite challenges, Argo remains confident in achieving its 2022 financial objectives.
Argo Group International Holdings, Ltd. (NYSE: ARGO) announced the exploration of strategic alternatives, which may include a sale or merger, aimed at maximizing shareholder value. The board postponed the 2022 annual general meeting to allow for this review process. Thomas Bradley, chairman of the board, noted the company has undertaken measures for profitable growth and disciplined expense management. Goldman Sachs has been appointed as a financial advisor while Skadden, Arps, Slate, Meagher & Flom LLP will serve as legal counsel.
Argo Group International Holdings (NYSE: ARGO) will release its Q1 2022 financial results post-market on May 2, 2022. An investor conference call is scheduled for May 3, 2022, at 10 a.m. EDT. Investors can join the live webcast at this link or by phone, with U.S. participants dialing +1-844-200-6205 and international participants calling +1-929-526-1599 (access code 525096). A replay will be available until May 10, 2022. Argo specializes in specialty insurance products in the property and casualty market.
On March 15, 2022, Capital Returns Management criticized Argo Group's alleged strategic repositioning since 2020, stating it has led to a decrease in shareholder value. They urged the Board to undergo urgent enhancement and not to make unilateral changes before the Annual Meeting scheduled for early May 2022. Capital Returns highlighted Argo's significant underperformance compared to peers and indices, urging shareholders to participate in electing new directors to restore value.
Argo Group International Holdings, Ltd. (NYSE: ARGO) has announced its response to the nomination of two director candidates by Capital Returns Management for Argo's 2022 Annual General Meeting. The Company asserts that it has made significant progress in strengthening its strategic positioning since 2020, focusing on growth in premium earnings and improving margins. The Board has undergone changes, with seven directors stepping down and four joining, enhancing independent guidance. No shareholder action is required at this time as the Board evaluates the nominees.
Argo Group International Holdings reported its financial results for Q4 2021, revealing a net loss of $118.8 million, or $3.41 per diluted share, compared to a loss of $3.5 million in Q4 2020. Despite a 4.2% increase in net earned premiums, the company faced significant reserve development costs and a combined ratio of 122.4%. However, net investment income grew 31.8% to $44.4 million. Catastrophe losses dropped dramatically from $51 million in Q4 2020 to $6.8 million in Q4 2021. The full-year net loss was $4.7 million, a significant improvement over the previous year's loss of $58.7 million.
Argo Group International Holdings, Ltd. (NYSE: ARGO) has declared a quarterly cash dividend of $0.31 per share, payable on March 15, 2022, to shareholders of record as of February 28, 2022. This dividend reflects the company’s commitment to returning value to its shareholders. Argo specializes in property and casualty insurance, serving diverse markets through its U.S. and International Operations. The company is rated 'A-' by both Standard and Poor’s and A.M. Best, signaling strong financial health.
Argo Group International Holdings, Ltd. (NYSE: ARGO) has successfully completed the sale of Argo Seguros Brasil S.A. to Spice Private Equity Ltd. This move aligns with Argo's strategy to focus on US-based insurance risks, as stated by Interim President of International Operations, Andy Borst. The financial specifics of the transaction remain undisclosed. Argo continues to be rated 'A-' by Standard & Poor’s and A.M. Best, reinforcing its position in the specialty insurance market.
Argo Group International Holdings (NYSE: ARGO) announced that its fourth quarter 2021 results will be negatively impacted by adverse prior year reserve development of $130 million to $140 million and non-operating charges of $60 million to $70 million. Key contributors include large reserve increases for construction defect claims from prior underwriting years and an expected $40 million to $45 million impairment related to its Syndicate 1200 unit. The company will release its results on February 22, 2022, and hold a conference call on February 23, 2022.
Argo Group International Holdings, Ltd. (NYSE: ARGO) will release its fourth quarter 2021 financial results after U.S. markets close on February 22, 2022. Following this, an investor conference call is scheduled for 10 a.m. EST on February 23, 2022, accessible via a live webcast. Argo is known for providing specialty insurance within the property and casualty market, rated 'A-' by Standard & Poor’s and A.M. Best. Further details regarding the call and company information can be found on their official website.
