Argo Group International Holdings, Ltd. - ARGO STOCK NEWS

On March 15, 2022, Capital Returns Management criticized Argo Group's alleged strategic repositioning since 2020, stating it has led to a decrease in shareholder value. They urged the Board to undergo urgent enhancement and not to make unilateral changes before the Annual Meeting scheduled for early May 2022. Capital Returns highlighted Argo's significant underperformance compared to peers and indices, urging shareholders to participate in electing new directors to restore value.

Argo Group International Holdings, Ltd. (NYSE: ARGO) has announced its response to the nomination of two director candidates by Capital Returns Management for Argo's 2022 Annual General Meeting. The Company asserts that it has made significant progress in strengthening its strategic positioning since 2020, focusing on growth in premium earnings and improving margins. The Board has undergone changes, with seven directors stepping down and four joining, enhancing independent guidance. No shareholder action is required at this time as the Board evaluates the nominees.

Argo Group International Holdings reported its financial results for Q4 2021, revealing a net loss of $118.8 million, or $3.41 per diluted share, compared to a loss of $3.5 million in Q4 2020. Despite a 4.2% increase in net earned premiums, the company faced significant reserve development costs and a combined ratio of 122.4%. However, net investment income grew 31.8% to $44.4 million. Catastrophe losses dropped dramatically from $51 million in Q4 2020 to $6.8 million in Q4 2021. The full-year net loss was $4.7 million, a significant improvement over the previous year's loss of $58.7 million.

Argo Group International Holdings, Ltd. (NYSE: ARGO) has declared a quarterly cash dividend of $0.31 per share, payable on March 15, 2022, to shareholders of record as of February 28, 2022. This dividend reflects the company’s commitment to returning value to its shareholders. Argo specializes in property and casualty insurance, serving diverse markets through its U.S. and International Operations. The company is rated 'A-' by both Standard and Poor’s and A.M. Best, signaling strong financial health.

Argo Group International Holdings, Ltd. (NYSE: ARGO) has successfully completed the sale of Argo Seguros Brasil S.A. to Spice Private Equity Ltd. This move aligns with Argo's strategy to focus on US-based insurance risks, as stated by Interim President of International Operations, Andy Borst. The financial specifics of the transaction remain undisclosed. Argo continues to be rated 'A-' by Standard & Poor’s and A.M. Best, reinforcing its position in the specialty insurance market.

Argo Group International Holdings (NYSE: ARGO) announced that its fourth quarter 2021 results will be negatively impacted by adverse prior year reserve development of $130 million to $140 million and non-operating charges of $60 million to $70 million. Key contributors include large reserve increases for construction defect claims from prior underwriting years and an expected $40 million to $45 million impairment related to its Syndicate 1200 unit. The company will release its results on February 22, 2022, and hold a conference call on February 23, 2022.

Argo Group International Holdings, Ltd. (NYSE: ARGO) will release its fourth quarter 2021 financial results after U.S. markets close on February 22, 2022. Following this, an investor conference call is scheduled for 10 a.m. EST on February 23, 2022, accessible via a live webcast. Argo is known for providing specialty insurance within the property and casualty market, rated 'A-' by Standard & Poor’s and A.M. Best. Further details regarding the call and company information can be found on their official website.

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.