Argo Group International Holdings, Ltd. (NasdaqGS: AGII) announced today the reorganization of its U.S. professional lines businesses into a single platform under the Argo Pro brand. The reorganization consolidates three of Argo’s current business units: errors and omissions, U.S. management liability, and Insight Insurance Services. Argo Pro will now provide a broad portfolio of E&O and management liability lines of business on an admitted and surplus lines basis. “We’re pleased to combine the strengths of our current operations into a single platform that allows Argo Group to create a stronger professional lines presence in the U.S.,” said Argo Pro Chief Underwriting Officer Laurie Banez. “This approach will give our appointed brokers and their clients the opportunity to access a broader portfolio of products with a consistent underwriting approach across the U.S.” Argo Pro’s portfolio of products will now include professional liability insurance coverages on a primary and excess basis for the following: accountants, architects and engineers, cyber/privacy, directors and officers, A side DIC, employment practices, fidelity and crime, fiduciary, insurance agents, lawyers, real estate, and technology/media. Ms. Banez will be responsible for the combined operations and will report to Lou Levinson, president of excess and surplus lines, and Mark Peeters, chief professional liability underwriter. Ms. Banez is a 25-year insurance industry veteran who brings extensive underwriting and operational experience to the organization. She was previously senior vice president and head of management liability for Argo Group. Prior to joining Argo Group, Ms. Banez held various senior leadership positions with several leading professional lines insurance carriers. Michael Carr will continue to lead Argo Pro’s E&O operations and will report to Ms. Banez. Mr. Carr joined Argo Group last year bringing 25 years of experience at various professional lines carriers where he specialized in technology and media professional liability. ABOUT ARGO PRO Argo Pro provides professional lines products and services through appointed retail and wholesale brokers. Argo Pro is based in Jersey City, NJ, with offices in Richmond, VA; Scottsdale, AZ; Chicago and Geneva, IL.
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.