Argo Group International Holdings, Ltd. (NasdaqGS: AGII), an international underwriter of specialty insurance and reinsurance products, announced today that it will expand its offerings in the international casualty marketplace to include treaty reinsurance business written through Lloyd’s of London. This new capability adds to Argo Group’s existing lines of international casualty treaty reinsurance available through its Bermuda-based reinsurance platform, Argo Re.
Syndicate 1200 will begin writing international casualty treaty reinsurance for accounts which incept after January 1, 2013 in selected lines. The portfolio will include general liability, professional lines, and motor liability on a global basis, excluding the U.S.
“Being able to write international casualty treaty reinsurance from our Lloyd’s platform follows a successful first year of writing the business at Argo Re,” said Argo International Managing Director Jeff Radke. “Adding this new class of business to Syndicate 1200 reflects the confidence that we have in our underwriting team’s ability to grow profitably.”
Stuart Dale has been named class underwriter, International Casualty Treaty, for Syndicate 1200. Mr. Dale joined Argo International in late 2011 to assist in development of the portfolio after holding senior underwriting roles at QBE and Sagicor. Additional depth and expertise for the portfolio will be provided by newly appointed casualty underwriter Alison Wood, who joined Argo International after 12 years at General Re in London.“We’re pleased to have received Lloyd’s support for this initiative,” added Mr. Radke. “Our capability to consider all casualty reinsurance business across multiple platforms makes Argo Group a strong competitor in this marketplace, and we look forward to growing this business within our Lloyd’s portfolio.” ABOUT ARGO GROUP INTERNATIONAL HOLDINGS, LTD. Argo Group International Holdings, Ltd. (NasdaqGS: AGII) is an international underwriter of specialty insurance and reinsurance products in the property and casualty market. Argo Group offers a full line of products and services designed to meet the unique coverage and claims handling needs of businesses in four primary segments: Excess & Surplus Lines, Commercial Specialty, International Specialty and Syndicate 1200. Argo Group's insurance subsidiaries are A. M. Best-rated 'A' (Excellent) (third highest rating out of 16 rating classifications) with a stable outlook, and Argo's U.S. insurance subsidiaries are Standard and Poor's-rated 'A-' (Strong) with a stable outlook. More information on Argo Group and its subsidiaries is available at www.argolimited.com. FORWARD-LOOKING STATEMENTS This press release contains certain statements that are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are qualified by the inherent risks and uncertainties surrounding future expectations generally and also may differ materially from actual future experience involving any one or more of such statements. For a more detailed discussion of such risks and uncertainties, see Argo Group's filings with the SEC. The inclusion of a forward-looking statement herein should not be regarded as a representation by Argo Group that Argo Group's objectives will be achieved. Argo Group undertakes no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise.
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