Argo seeks capital release on its Lloyd’s prior years
Argo is seeking to transfer some of its prior years' reserve
risk to a legacy buyer so that capital is freed up to support
current underwriting, according to well-placed sources.
The Aon Benfield-run auction has sought bids from Lloyd's
reinsurance to close (RITC) specialists, with final offers due to
be submitted shortly for a portfolio with more than $200mn in gross
reserves, sources said.
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The frontrunners in the race are thought to be the
Enstar-backed RITC provider...
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