- Strategic Growth: Premium growth focused on strategic growth areas, including 7% increase in U.S. Operations during the fourth quarter and full year 2020.
- Rate Increases Continue: Rate change remains above 10% on average across Argo’s business in the fourth quarter and continued to increase from recent periods.
- Underlying Margin Improvement: A combination of underwriting actions taken during 2020, better pricing, improved terms and expense progress are driving current accident year, ex-catastrophe underwriting margin expansion compared to 2019.
Hamilton, Bermuda – February 17, 2021 – Argo Group International Holdings, Ltd. (NYSE: ARGO) (“Argo” or the “Company”) today announced financial results for the three months and year ended December 31, 2020. Argo reported a fourth quarter 2020 net loss attributable to common shareholders of $19.7 million or $(0.57) per diluted common share, compared to a net loss attributable to common shareholders of $103.3 million or $(3.01) per diluted common share for the 2019 fourth quarter. Operating loss in the fourth quarter of 2020 was $18.2 million or $(0.52) per diluted common share, compared to an operating loss of $73.9 million or $(2.15) per diluted common share for the 2019 fourth quarter.
