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) has agreed to sell its Malta operations, ArgoGlobal Holdings (Malta) Ltd., to Riverstone Holdings Limited. This transaction, pending regulatory approval, is expected to close in the first half of 2022. The sale aligns with Argo’s strategy to concentrate on U.S.-based specialty insurance risks, as the Malta business has not been actively underwriting since 2020. The deal reinforces Argo's focus on its primary market while maintaining service standards for existing policyholders.
Argo Group International Holdings, Ltd. (NYSE: ARGO) has declared a quarterly cash dividend of $0.31 per share on its common stock. This dividend is scheduled for payment on December 15, 2021, to shareholders of record on November 30, 2021. Argo specializes in underwriting specialty insurance products in the property and casualty market, operating primarily through U.S. and International segments. The company and its subsidiaries hold an 'A-' rating from Standard and Poor’s and A.M. Best.
Argo reported a strong financial performance for Q3 2021, achieving a net income of $19.8 million, or $0.56 per diluted share, compared to a net loss of $(25.1) million in Q3 2020. Operating income was $31.7 million or $0.91 per share, reflecting improved underwriting margins and reduced catastrophe losses of $27.3 million, down from $71.2 million in 2020. Gross written premiums decreased by 1.6% to $875.6 million, but ongoing business premiums grew by 17%. The combined ratio improved by 9.8 points to 100.3%, showcasing effective management strategies in the U.S. and international segments.
Argo Group International Holdings, Ltd. (NYSE: ARGO) will release its 2021 third quarter financial results after U.S. market close on November 2, 2021. An investor conference call is scheduled for November 3, 2021, at 10 a.m. EDT. This call will provide insights into Argo's financial performance, including vital metrics such as earnings and revenue. Access to the live webcast is available through a specified link, with a replay option provided for those unable to attend the live session. Argo is known for specialty insurance products, rated 'A-' by Standard & Poor's and A.M. Best.
Argo Group International Holdings (NYSE: ARGO) has agreed to sell its Brazilian operations, Argo Seguros Brasil S.A., to Spice Private Equity Ltd. for 160 million Brazilian Reais, approximately $30 million. The deal is subject to regulatory approval and is expected to close by the end of 2021. This strategic divestiture supports Argo Group's focus on U.S.-based specialty insurance risks, a move highlighted by Interim President Andy Borst as a significant milestone for Argo Brazil's evolution.
On September 13, 2021, Capital Returns Management, a significant shareholder of Argo Group (NYSE: ARGO), urged the company's Board of Directors to explore strategic alternatives, including a full sale. Capital Returns argues that the U.S. specialty business, with over $2 billion in gross written premiums, is undervalued due to capital constraints and the underperformance of international operations. They suggest a potential sale could yield at least $80 per share, significantly higher than the current price, which reflects a decline of approximately 33% over the past two and a half years.
Argo Group International Holdings, Ltd. (NYSE: ARGO) has announced several leadership changes aimed at simplifying its organizational structure. CEO Kevin Rehnberg stated that these appointments will further the company's strategic goals. Promotions include Susan Comparato as chief administrative officer, Andy Borst as interim president of International Operations, Gary Grose as president of Commercial Specialty, and Marsh Duncan as president of Excess & Surplus. The company has also confirmed the departures of Tim Carter and Matt Harris. Argo is focused on U.S. and international specialty insurance markets.
Argo Group International Holdings, Ltd. (NYSE: ARGO) declared a quarterly cash dividend of $0.31 per share on its common stock. This dividend will be paid on September 15, 2021 to shareholders of record as of August 31, 2021. Argo specializes in underwriting property and casualty insurance products, catering to unique business needs through its U.S. and International Operations. The company holds an 'A-' rating from Standard and Poor's and A.M. Best for its insurance subsidiaries, reflecting a solid financial position.
Argo Group International Holdings, Ltd. (ARGO) reported strong financial results for Q2 2021, achieving net income of $67.1 million ($1.92 per diluted share), a significant rebound from a net loss of $5.4 million in Q2 2020. Operating income rose to $56.1 million, driven by disciplined underwriting and investment contributions. Gross written premiums increased by 2.0% to $815.3 million, with a notable 25% growth in U.S. strategic areas, despite a decline in International premiums. The combined ratio improved to 95.4%, aided by lower catastrophe losses and better claims management.
Argo Group International Holdings, Ltd. (NYSE: ARGO) will release its 2021 second quarter financial results on August 2, 2021, after U.S. markets close. The management team will host an investor conference call on August 3, 2021, at 10 a.m. EDT to discuss these results. Interested participants can access the live webcast via this link or dial in at +1-877-291-5203 from the U.S. A replay will be available shortly after the call.