The Future of Insurance
HAMILTON, Bermuda–(BUSINESS WIRE)– Argo Group International Holdings, Ltd. (NASDAQ: AGII), an international underwriter of specialty insurance and reinsurance products, today released its digital 2017 Annual Report. In addition to highlighting Argo’s diverse product portfolio, strong investment results and growth in gross written premium, the report provides insights from leading industry experts on the future of insurance.
“2017 was an important year for Argo,” writes Argo Group CEO Mark E. Watson III in his letter to shareholders. “Despite significant, industry-wide catastrophe claims and underwriting challenges in the London market, our balance sheet held up well, and we finished the year in a better competitive position than we started.”
Watson points out that Argo Group served its customers faithfully through its claims handling. “The resulting losses affected our bottom line,” he writes, “but they also remind us that we are fulfilling our mission: We’re here to help businesses stay in business.”
Watson’s letter also focuses on the future of insurance – a future in which Watson says Argo is uniquely positioned to excel. “For more than a decade, we have been anticipating the transformation currently underway in our industry, predicting the unavoidable disruption of our value chain, service delivery and capital structure,” writes Watson. “Specialty insurance lives at the crossroads of new ideas and new threats. We are confident specialty underwriters will continue growing in importance as a critical support for new enterprises, enabling entrepreneurs to mitigate the considerable risks associated with early adoption of new technologies.”
In addition, Watson discusses the ways in which Argo is building its digital expertise, developing new software, investing in leading and emerging technologies, and partnering with startups. He also notes Argo’s emphasis on attracting, developing and retaining a new generation of talent.
The full digital report can be viewed at: https://www.argolimited-stage.com/reports/2017-annual-report.
ABOUT ARGO GROUP INTERNATIONAL HOLDINGS, LTD.
Argo Group International Holdings, Ltd. (NASDAQ: 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 two primary segments: U.S. Operations and International Operations. 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 Group’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-stage.com.
FORWARD-LOOKING STATEMENTS
This release and the referenced 2017 Annual Report may include forward-looking statements, both with respect to Argo Group and its industry, that reflect our current views with respect to future events and financial performance. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For further information, please see the Forward-Looking Statements disclosure in the 2017 Annual Report.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180410006212/en/
Argo Group International Holdings, Ltd.
For media inquiries, please contact:
David Snowden, 210-321-2104
Senior Vice President, Corporate Communications
[email protected]
or
For investor inquires, please contact:
Susan Spivak Bernstein, 212-607-8835
Senior Vice President, Investor Relations
Source: Argo Group International Holdings, Ltd.
