UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
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Bermuda | Bermuda | |
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Item 2.02. | Results of Operations and Financial Condition. |
On April 21, 2021, Argo Group International Holdings, Ltd. (the “Company”) issued a press release regarding its anticipated financial results for the fiscal quarter ended March 31, 2021. 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 April 21, 2021 | |
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: April 21, 2021 | ARGO GROUP INTERNATIONAL HOLDINGS, LTD. | |||||
By: | /s/ Scott Kirk | |||||
Name: Scott Kirk | ||||||
Title: Chief Financial Officer |
Exhibit 99.1
Argo Group Comments on Results for First Quarter 2021
HAMILTON, Bermuda April 21, 2021 Argo Group International Holdings, Ltd. (Argo or the company) (NYSE: ARGO), announced today that its results for the first quarter of 2021 will be adversely affected by estimated catastrophes losses of approximately $47 million.
Argo expects to report natural catastrophe losses of approximately $43 million in the first quarter, primarily related to Winter Storm Uri. Approximately half of natural catastrophe losses are attributable to International Operations, which includes losses related to Ariel Re that was sold during 2020. Argo further expects to report net losses of approximately $4 million due to the ongoing COVID-19 pandemic, primarily related to contingency exposures in Argos International Operations.
Argos loss estimates are pre-tax and net of reinsurance recoveries. The companys actual losses may ultimately differ materially from estimated losses due to the nature of the risks assumed, the complexity of the assessment of damages and the number of reported claims received to date.
ABOUT ARGO GROUP INTERNATIONAL HOLDINGS, LTD.
Argo Group International Holdings, Ltd. (NYSE: ARGO) is an underwriter of specialty insurance 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. Argo and its insurance subsidiaries are rated A- by Standard & Poors. Argos insurance subsidiaries are rated A- by A.M. Best. More information on Argo and its subsidiaries is available at argogroup.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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