Kurt Tipton joined Rockwood in 1986. Ron Swanstrom joined Argo Group in September 2009. From a consumer perspective there are almost a hundred different insurance companies, but the reality is a bit different: As we analyzed Property and Casualty (Home and Auto) insurance companies in Canada, we identified the following groups of insurers: These are huge companies that acquired other smaller insurers over time. In May, Argo Group acquired Heritage and its Lloyds syndicate for $272 million in order to create a broader underwriting platform with extended geographic capability. [18][19], In 2008, Trident Insurance Services acquired Massamont Insurance Agency, which specialized in insurance programs for public entities,[20] expanding Argo's public entity footprint into New England with offices in Greenfield and Boston, Mass. Since its sale by the Carlyle Group to Blue Water Energy, he has continued to serve as Chairman of the Board of Authentix since September 2018. As Head of Argo Insurance Bermuda, he is responsible for managing the teams and underwriting activities at Argo's Bermuda offices. Mr. Bradley became a director of Argo Group International Holdings, Ltd., in 2018 and was appointed as board chairman in 2020. Swanstrom graduated from Benedictine University with a bachelors degree in mathematics. [17], The new company renamed as Argo Group International Holdings, Ltd., and moved its public company home office to Bermuda, which offered a more favorable tax structure than the United States. The unit, Brookfield Reinsurance (BNRE.N), , said on Wednesday it will offer a $30 cash payment to shareholders of Argo, representing a premium of about 7% to the stock's last close, after the merger completes in the second half of 2023. As Chief Underwriting Officer, he is responsible for driving the companys U.S. underwriting strategies and implementing policies that support retention, growth and profitability of the companys total portfolio of businesses. Source: Brookfield Reinsurance and Argo Group International Holdings. [6] It was acquired in 1969 by Teledyne Technologies,[7] then expanded into additional product lines and acquired Great Central Insurance. AdvisorsDebevoise & Plimpton LLPis serving as legal advisor to Brookfield Reinsurance on this transaction. More information on Argo and its subsidiaries is available at argogroup.com. [emailprotected], Media: Bernard C. Bailey became a Director of the Company in 2020. He is a board member of Verisk Analytics, Inc. and J.S. [8] The company moved its corporate office to San Antonio, Texas, in 2001. Argo Group - Crunchbase Company Profile & Funding As Chief Accounting Officer, he is responsible for global accounting operations and all corporate finance transactions. Argo's ownership was shared among its largest shareholders, Ford and Volkswagen, each of whom owned 42 percent of the company. Credit Ratings, Research and Analysis for the global capital markets. Before joining Prudential, he worked at Northgate Capital, a venture firm in Silicon Valley, where he ran technology-focused funds. As Chief Claims Officer, he is responsible for managing and implementing claims programs for all lines of insurance. ArgoGlobal SE business was primarily focused on insuring risks in Europe and has not been actively underwriting business since 2020. Any forward-looking statements made in this press release are qualified by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by Argo will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, Argo or its business or operations. Phone Number (441) 296-5858. As Chief Risk Officer, he is responsible for the Enterprise Risk Management function as well as capital modeling, ceded reinsurance and the companys rating agency relationships. He has also held producer/distribution and marketing management positions at Zurich, Allstate and John Hancock. The transaction is not subject to any financing condition or contingency. Prior to that, he served in several senior finance roles, including Chief Financial Officer of Aspens insurance business. [14] In 2003 they acquired Grocers from Royal & Sun Alliance USA,[15] expanding their Great Central platform. 210-321-2104 Prior to this, he was at Misys, a financial services group, and has previously held leading technology and innovation roles at BT Group, Qwest Communications, Dresdner Kleinwort Benson and Swiss Bank Corporation. References to additional information about Argo and Brookfield Reinsurance have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Argo Vehicle Models. Find out about our history, philosophy and group executive committee. Dr. Bailey is the President of Paraquis Solutions, a private consulting company focused on corporate governance and strategy. [3] Argo Group and its insurance subsidiaries are rated "A" by Standard & Poor's. Argo AI co-founder Bryan Salesky. Prior to joining Argo Group, Comparato spent 16 years at Syncora Holdings where she held a number of senior positions, including CEO, general counsel and board member. Home - Argoins Eric Michel joined Argo Group in April 2021. View a list of operating insurance entities in this structure. He previously served as interim chief executive officer between March 2022 to June 2022. This press release may include, and Argo and Brookfield Reinsurance may make related oral, forward-looking statements which reflect Argos or Brookfield Reinsurances current views with respect to future events and financial performance. Argo's insurance subsidiaries are rated "A" by AM Best. BROOKFIELD, NEWS, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Brookfield Reinsurance (NYSE, TSX:BNRE) and Argo Group International Holdings, Ltd. ("Argo") (NYSE: ARGO) today announced they have entered. Before Allianz, Jaegge served as AVP, Marketing Leader for Aon in the companys greater New York region and Construction Services Group. Source: Dictionary of American Family Names 2nd edition, 2022. Kirk previously served as Chief Financial Officer at Aspen Insurance Holdings Limited. RiverStone International is an industry-leading acquirer and reinsurer of legacy and discontinued insurance business. Al-Noor Ramji joined Prudential in January 2016 in the newly created role of Group Chief Digital Officer and is responsible for developing and executing an integrated, long-term digital strategy for the group. The firm acquired Front Royal, Inc.[9] (along with its subsidiaries Colony and Rockwood), an insurance holding company headquartered in Morrisville, North Carolina, for $165 million in cash. Mike-Mayer previously served as Head of Technical Underwriting Global Commercial at AIG Commercial, where he was responsible for guiding key global underwriting excellence strategies, developing and implementing global underwriting standards and establishing a more consistent and robust risk selection framework for underwriters. The most prominent example is Intact with such brands as Intact (including Belairdirect, Grey Power, Canadian Direct Insurance, AXA, Jevco Insurance and Trafalgar Insurance). As General Counsel and Secretary, she is responsible for overseeing the companys legal and compliance teams. Each of Brookfield Reinsurances and Argos boards of directors unanimously approved the merger agreement. Samuel Liss is managing principal of Whitegate Partners LLC, an advisory firm to operating companies and private equity firms specializing in the financial services and business services sectors. The deal will take Argo private. We look forward to working closely with Argo through the completion phase and to continue to service ArgoGlobal SE policyholders and claimants to the high standards currently provided.. Argo undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by the federal securities laws. James River is a specialty insurer operating on an Excess & Surplus Lines basis in all fifty states and D.C. Brookfield Reinsurance to Acquire Insurer Argo Group in $1.1B Deal Additionally, Argo's Volunteer Time Off policy provides each employee with one day (eight hours) of paid time off each year to volunteer. During that time, she was responsible for the insourcing, oversight and management of retirement investments for the U.S., Canada and the U.K. We look forward to partnering with the Argo team to support the growth of its core businesses, build on its strong franchise, and deliver value for policyholders, Shah added. Standard Insurance Company, also branded as The Standard, is an American insurance and financial company which is a subsidiary of StanCorp Financial Group, headquartered in Portland, Oregon. Source of insurance premiums data: Canadian Underwriter, Your email address will not be published. On May 7, 2018, CEO Mark Watson III rang the opening bell of the NYSE. Argo Group International Holdings, Ltd, or Argo Group (NYSE:ARGO),[1][2] is a Bermuda-based international underwriter of specialty insurance products in the property and casualty market. He previously held a senior role at S&P Global Ratings. David Snowden //Insurance Companies in Canada - Who Owns Whom In 2017, the company paid a claim to Disney, who had bought insurance against the possibility that actress Carrie Fisher would die before filming Star Wars: The Rise of Skywalker. Learn More Emma Barnes Brown CHIEF PEOPLE OFFICER In Europe, ERGO claims to be number 1 in the health and legal expenses insurance segments, and in its home market of Germany it is among the market leaders. ARGO Insurance Brokers, Acquired by Tysers Insurance Brokers - Mergr Wharton previously served as Head of Financial Lines, Asia, at Catlin. By joining Brookfield Reinsurance, Argo will continue to serve our brokers with greater financial strength and opportunities to grow as a U.S.-focused specialty insurer, he said. Sandy Zrimsek joined Argo Group in 2005. Scottish (Aberdeenshire): unexplained. Argo Activist Shareholder Voce Renews Battle to - Insurance Journal On July 23, 2015, Meiji Yasuda, a Japanese mutual insurance group, made an offer to purchase Stancorp Financial for $5 billion. Argo Group International Holdings, Ltd. Schramm holds a Bachelor of Business Administration from the Wisconsin School of Business. He was Vice President, Professional Lines, for XL Insurance in Bermuda, serving U.S. Fortune 500 companies. February 08, 2023 08:29 ET The boards of directors of Brookfield Reinsurance and Argo unanimously approved the merger agreement as did Argos largest shareholder, Voce Capital Management LLC. Company Description: Key Principal: OLGA GALVAN See more contacts Industry: Machinery, Equipment, and Supplies Merchant Wholesalers , Merchant Wholesalers, Durable Goods , Wholesale Trade , Industrial machinery and equipment Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. The Perfect Price. Through its Lloyds Syndicate 1200 platform, ArgoGlobal is focused on U.S. non-admitted and global specialty risks and reinsurance to close (RITC) transactions. Michel holds a Bachelor of Arts in Business, Management, Marketing and Related Support Services from Coastal Carolina University. Argo Blockchain shareholders: Who owns the most ARB stock? - Capital.com New York, NY (Feb. 28, 2023) Brookfield Reinsurance and Argo Group International Holdings Ltd. are pleased to announce they have entered into a definitive merger agreement whereby Brookfield Reinsurance will acquire Argo in an all-cash transaction valued at approximately $1.1 billion. Tipton received his Bachelors in business administration from the University of Pittsburgh and his MBA from Frostburg State University. Communications & Media Brookfield Reinsurance:Kerrie McHughTel: (212) 618-3469Email: kerrie.mchugh@brookfield.com, Investor Relations Brookfield Reinsurance:Rachel PowellTel: (416) 956-5141Email: rachel.powell@brookfield.com, Communications & Media Argo:David SnowdenTel: (210) 321-2104Email: david.snowden@argogroupus.com, Investor Relations Argo:Andrew HersomTel: (860) 970-5845Email: andrew.hersom@argogroupus.com, Gregory CharpentierTel: (978) 387-4150Email: gregory.charpentier@argogroupus.com, Cautionary Note Regarding Forward-Looking Statements. Financial services firm Brookfield Reinsurance announced it has entered a definitive agreement to acquire Argo Group International Holdings in an all-cash transaction valued at approximately $1.1 billion. Argo Group Pros & Cons: Top Experts Review | Trusted Choice www .standard .com. More information on Argo Group and its subsidiaries is available at www.argolimited.com. These are single insurance companies that are jointly owned by their policyholders. The company offers a full line of products and services designed to meet the unique coverage and claims-handling needs of businesses. As a property investor or anyone who owns real estate, it is wise to have insurance coverage. A deep understanding of the markets it serves. This press release may include, and Argo and Brookfield Reinsurance may make related oral, forward-looking statements which reflect Argos or Brookfield Reinsurances current views with respect to future events and financial performance. He is a member of the Institute of Chartered Accountants in England, Wales and Australia. Held. A more complete description will be available in the proxy statement on Schedule 14A that will be filed with the SEC in connection with the proposed transaction. The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included herein or elsewhere, including the risk factors included in Argos most recent Annual Report on Form 10-K and Form 10-K/A, and Quarterly Report on Form 10-Q, Brookfield Reinsurances Form 20-F and other documents of Argo or Brookfield Reinsurance on file with, or furnished to, the SEC. BLOOMBERG. Taylor graduated from the University of Florida, studying Business Administration with a specialization in Statistics and a minor in Actuarial Science. AM Best Reviews Argo Group's Ratings in Reaction - Insurance Journal Brief Introduction. Argo vehicles come in standard 4-wheel, 66, and 88 configurations. Boughal has a bachelors degree in applied quantitative economics from the University of Rhode Island. Debevoise & Plimpton LLP is serving as legal advisor to Brookfield Reinsurance on this transaction. Being owned by a larger company often means fulfilling a set directive in terms of revenue, savings and operations. Statements that include the words expect, estimate, intend, plan, believe, project, anticipate, seek, aim, likely, will, may, could, should or would and similar statements of a future or forward-looking nature identify forward-looking statements in this press release for purposes of the U.S. federal securities laws or otherwise. Argo 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. Copyright 2023 by Wells Media Group, Inc. resignation of former CEO Mark E. Watson III, stepped down in March 2022 due to health problems. Previously, Mr. Bradley served as the chief financial officer and executive vice president of Allied World Assurance Company Holdings, AG, a global provider of insurance and reinsurance solutions, from 2012 until 2017. Argo Group International Holdings, Ltd. - Fitch Ratings Argo Name Meaning. Allison Kiene joined Argo Group in October 2020. ABOUT ARGO GROUP INTERNATIONAL HOLDINGS LTD. See here for a complete list of exchanges and delays. For full-year 2021 (the most recent FY results), Argo reported a net loss attributable to common shareholders of $4.7 million, compared to a net loss attributable to common shareholders of $58.7 million in 2020. Argo Insurances excess casualty, property and professional lines provide access to non-Lloyds intermediaries outside the U.S.[32], Argo Group's corporate giving contributions are primarily guided by employees and occasionally companywide at the group level. Zrimsek previously served in the insurance industry in the farm and ranch space before becoming a commercial lines underwriter. Before that, she led the commercial and specialty businesses at State Auto Insurance. Compare Credit Cards: Travel and Insurance, RBC Insurance sale to Aviva for $582-million dollars, Life Insurance and Zika Virus What You Must Know, Life Insurance for HIV Persons Rates and Must-Know Tips. These crown corporations are ICBC (Insurance Corporation of British Columbia) in British Columbia, MPI (Manitoba Public Insurance) in Manitoba, and SGI (Saskatchewan Government Insurance) in Saskatchewan. Argo produces All-Terrain Vehicles. The Argo Blockchain shareholders with the largest stakes are institutional investors. He served in other marine underwriting and related roles at Selective Insurance, The Hanover Insurance Group and Firemans Fund Insurance Company. Argo Group International Holdings, Ltd. (NASDAQ:AGII) is an international underwriter of specialty insurance and reinsurance products in the property and casualty market. His other roles in the company included VP, Marketing and Distribution Manager, where he focused on the Commercial Specialty unit, broker relationships and the companys career development platform, Ascend With Argo. Argos leading U.S. specialty platform adds a foundational piece to our expanding U.S. P&C operations. Brookfield Reinsurance to Acquire Insurer Argo Group in $1.1B Deal Dave Ferrick PRESIDENT & CEO As CEO of Agero, Dave Ferrick oversees business development and operational strategies for Agero's growing global portfolio of roadside, accident management and telematics offerings. Your email has been successfully added to our newsletter list. Dr. Bailey served as Chairman and CEO of Authentix, a private equity-backed global enterprise focused on anti-counterfeiting and brand protection practices, from 2012 to 2018. There have been a string of tie-ups in the past few months between insurers and asset managers, who are looking for ways to boost the amount of money they manage. This press release is not a substitute for the proxy statement or any other document that Argo or Brookfield Reinsurance may file with the SEC. As Underwriting Officer for Financial Lines, he is responsible for finding effective solutions and coverage options for financial institutions. Wade previously served as Chief Claims Officer for U.S. Operations before assuming his role as Chief Claims Officer group-wide in June 2020.
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