- Underwriting Results:Improved underwriting margins and reduced catastrophe losses resulted in a combined ratio of 95.4%, Argo’s best quarterly combined ratio in more than two years.
- Accelerating Growth:Strong growth in both U.S. and International after adjusting for recent business exits and underwriting actions; market conditions remain favorable for continued growth.
- Return on Equity:Annualized return on average common shareholders’ equity was 15.6% in the second quarter; annualized operating return on average common shareholders’ equity was 13.1%.
Hamilton, Bermuda – August 2, 2021 – Argo Group International Holdings, Ltd. (NYSE: ARGO) (“Argo” or the “Company”) today announced financial results for the three and six months ended June30, 2021. Argo reported second quarter 2021 net income attributable to common shareholders of $67.1 million or $1.92 per diluted common share, compared to a net loss attributable to common shareholders of $5.4 million or $(0.16) per diluted common share for the 2020 second quarter. Operating income in the second quarter of 2021 was $56.1 million or $1.60 per diluted common share, compared to an operating loss of $3.6 million or $0.10 per diluted common share for the 2020 second quarter.
View the 2021 2nd Quarter Recap
Contact:
Brett Shirreffs
Head of Investor Relations
212.607.8830
[email protected]
David Snowden
Senior Vice President, Communications
210.321.2104
[email protected]
