Argo Group Announces Board Retirements

Rhea-AI Summary

Argo Group International Holdings (NYSE: ARGO) announced the immediate retirements of board members Kathleen Nealon and John Tonelli, effective after the Annual General Meeting on May 6, 2021. This will reduce the board size to 9 directors. Non-Executive Chairman Thomas A. Bradley expressed gratitude for their contributions to the company's growth into a stronger, U.S.-focused specialty insurer. Nealon has been on the board since 2011, while Tonelli joined in 2010, contributing notably in various committees.

Positive

• Successful transition with board restructuring.
• Appreciation for leadership contributions from outgoing board members.

Negative

• Reduction in board size may affect governance oversight.

Argo Group International Holdings, Ltd. (NYSE: ARGO) (“Argo” or “the company”), an underwriter of specialty insurance, today announced the retirements of Kathleen Nealon and John Tonelli from the board of directors effective immediately following the company’s Annual General Meeting scheduled for May 6, 2021. Following this meeting, the size of company’s board will be reduced to 9 directors.

“On behalf of the entire board, I would like to thank Kate and John for their tenure,” said Thomas A. Bradley, Argo Group’s Non-Executive Chairman of the Board. “The company has grown and evolved into a much stronger U.S.-focused specialty insurer under their direction. We appreciate their leadership, commitment and contributions to positioning this company for future success.”

Nealon joined the board in 2011 and serves on the Audit and Risk & Capital Committees. Tonelli joined the board in 2010 and serves as the Investment Committee chair and as a member of the Nominating and Corporate Governance Committee.

For more information concerning the company’s Annual General Meeting, please refer to Argo’s Proxy Statement available on the company’s website at www.argogroup.com.

ABOUT ARGO GROUP INTERNATIONAL HOLDINGS, LTD.
Argo Group International Holdings Ltd. (NYSE: ARGO) is an underwriter of specialty insurance products in the property and casualty market. Argo offers a full line of products and services designed to meet the unique coverage and claims-handling needs of businesses in two primary segments: U.S. Operations and International Operations. Argo and its insurance subsidiaries are rated ‛A-’ by Standard and Poor’s. Argo’s insurance subsidiaries are rated ‛A-’ by A.M. Best. More information on Argo and its subsidiaries is available at www.argogroup.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210325005953/en/

FAQ

What recent changes occurred in Argo Group's board of directors?

Kathleen Nealon and John Tonelli announced their retirements from Argo's board, effective after the Annual General Meeting on May 6, 2021.

How many directors will Argo Group have after the upcoming Annual General Meeting?

After the Annual General Meeting on May 6, 2021, Argo Group's board will be reduced to 9 directors.

What roles did Kathleen Nealon and John Tonelli serve on the Argo Group board?

Kathleen Nealon served on the Audit and Risk & Capital Committees, while John Tonelli was the Investment Committee chair and a member of the Nominating and Corporate Governance Committee.

What is Argo Group's rating by Standard and Poor’s?

Argo Group and its insurance subsidiaries are rated 'A-' by Standard and Poor's.

Where can I find more information about Argo Group's Annual General Meeting?

More information regarding Argo Group's Annual General Meeting can be found in the Proxy Statement available on their website.