UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
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Item 2.02. | Results of Operations and Financial Condition. |
On October 21, 2020, Argo Group International Holdings, Ltd. (the “Company”) issued a press release regarding its anticipated financial results for the fiscal quarter ended September 30, 2020. A copy of the press release is furnished as Exhibit 99.1 to this report and is incorporated herein by reference.
Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits:
No. |
Exhibit | |
99.1 | Press Release issued by Argo Group International Holdings, Ltd. dated October 21, 2020 | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: October 21, 2020 | ARGO GROUP INTERNATIONAL HOLDINGS, LTD. | |||||
By: | /s/ Jay S. Bullock | |||||
Name: | Jay S. Bullock | |||||
Title: | Executive Vice President and Chief Financial Officer |
Exhibit 99.1
Argo Group Announces Estimated Losses from Third Quarter 2020 Catastrophes
HAMILTON, Bermuda October 21, 2020 Argo Group International Holdings, Ltd. (Argo or the company) (NYSE: ARGO), announced today that its results for the third quarter of 2020 will be adversely affected by estimated losses related to various natural catastrophe events and the continued impact of the COVID-19 pandemic.
Argo expects to report natural catastrophe losses of approximately $54 million in the third quarter primarily related to Hurricanes Hanna, Laura and Sally, as well as the U.S. wildfires and Midwest derecho, with losses split roughly evenly between U.S. and International Operations. Argo further expects to report net losses of approximately $17 million due to the ongoing COVID-19 pandemic primarily related to contingency exposures in Argos International Operations. The companys loss estimates are pre-tax and net of reinsurance recoveries.
ABOUT ARGO GROUP INTERNATIONAL HOLDINGS, LTD.
Argo Group International Holdings, Ltd. is an underwriter of specialty insurance and reinsurance products in the property and casualty market. 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. Argos insurance subsidiaries are rated A- (Excellent) by A.M. Best. Argo and its insurance subsidiaries are rated A- (Strong) by Standard and Poors. More information on Argo Group and its subsidiaries is available at argolimited.com.
Investors: | Media: | |
Brett Shirreffs | David Snowden | |
Head of Investor Relations | Senior Vice President, Group Communications | |
212-607-8830 | 210-321-2104 | |
brett.shirreffs@argogroupus.com | david.snowden@argogroupus.com |
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