Argo hands back $30mn to shareholders as 2010 buybacks continue
Argo Group became the latest international (re)insurer to repatriate capital to shareholders last week, with a $17.5mn buyback of its common stock in an accelerated share repurchase agreement with Goldman Sachs.
With the repurchase of a further 430,000 shares for $12.5mn in recent open market trades, the Bermudian has bought back a total of $30mn of its common stock, leading to a reduction of around one million shares in its outstanding common stock.
Last month, Argo declared a quarterly cash...
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