International lines weigh on Argo’s Q3
Argo slumped to a third quarter loss as its underperforming international segments weighed on results.
The Bermudian (re)insurer reported a $12.1mn net loss for the period on a combined ratio of 114.1 percent. This was a deterioration from last year when it booked net income of $23mn (combined ratio 101.3 percent).
The firm's results were adversely affected by $26.7mn of pre-tax catastrophe losses, net of reinstatement premiums, and a $10mn charge relating to aggregate reinsurance cover losses.
The firm expanded...
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