Argo posts US storm losses of $30mn-$35mn
Argo Group is estimating net losses of between $30mn and $35mn from the US tornadoes in April and May.
The mid-point of this range represents 2.1 percent of Q1 shareholder equity - roughly in line with the (re)insurer's peers.
However, investors will be encouraged by the news that Argo is holding its first quarter cat loss estimate at $113mn.
"Changes to our loss estimates for catastrophic events that occurred during the 2011 first quarter are not expected to be material.&...
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