Argo Group Reports 2021 First Quarter Results
Argo Group International Holdings reported a strong financial performance for Q1 2021, achieving a net income of $27.2 million or $0.78 per diluted share, reversing a net loss of $24.7 million in Q1 2020. Operating income also improved to $15.5 million or $0.44 per diluted share. The company noted an improved combined ratio of 93.4%, the best since 2016, indicating better underwriting results. Despite elevated catastrophe losses, Argo is optimistic about reducing property exposure before the U.S. wind season.
- Net income increased to $27.2 million compared to a net loss of $24.7 million in Q1 2020.
- Operating income improved to $15.5 million, up from $12.5 million in the prior year.
- Combined ratio improved to 93.4%, the best result since 2016.
- Incurred elevated catastrophe losses during the quarter.
Argo Group International Holdings, Ltd. (NYSE: ARGO) ("Argo" or the "Company") today announced financial results for the three months ended March 31, 2021. Argo reported first quarter 2021 net income attributable to common shareholders of
"We are pleased with the improved underlying combined ratio of
“While the first quarter included elevated catastrophe losses, we have made good progress on reducing our property exposure. We expect the majority of our targeted actions to be completed ahead of U.S. wind season. This will reduce our exposure to future events.”
First Quarter Consolidated Operating Highlights |
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Three Months Ended March 31, |
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Consolidated |
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2021 |
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2020 |
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FAQ
What were Argo Group's net income results for Q1 2021?
Argo Group reported a net income of $27.2 million or $0.78 per diluted share for Q1 2021.
How does Argo Group's Q1 2021 performance compare to Q1 2020?
In Q1 2020, Argo Group reported a net loss of $24.7 million, whereas Q1 2021 showed a substantial profit.
What was Argo Group’s operating income in the first quarter of 2021?
The operating income for Argo Group in Q1 2021 was $15.5 million or $0.44 per diluted share.
What is Argo Group's combined ratio for Q1 2021?
Argo Group achieved a combined ratio of 93.4% in Q1 2021, marking the best result since 2016.
What challenges did Argo Group face in Q1 2021?
Argo Group faced elevated catastrophe losses during the first quarter of 2021.
Argo Group International Holdings, Ltd.
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ARGO Stock Data
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