Argo
-
Tierra Underwriting is led by Andrew Beechey and supports green project-finance transactions.
-
Kevin Rehnberg says the carrier is disappointed with the level of catastrophe losses but expects less volatility going forward.
-
The US-focused specialty insurer dropped its core loss ratio by almost two points as it delivered its best underlying underwriting result since 2016.
-
Claims from Winter Storm Uri will cost the carrier about $43mn, before tax.
-
Former Argo executives Tim Hadler and Nigel Mortimer will join the MGA to lead the new programme.
-
Corrections to historical numbers push the net loss down to $58.7mn.
-
The deal will transfer legacy Pembroke business that still sat with Liberty Mutual Group for the 2018 and prior years of account.
-
Beazley has rebuilt its contingency team after large losses and a number of senior underwriter departures.
-
Argo is looking to redeploy capital from reinsurance and into high growth US E&S.
-
The company benefited from improved underlying results, premium growth at its US operations, and a much smaller reserve hit.
-
The executive replaces Jay Bullock, who announced his departure last summer.
-
The carrier has set aside $13mn to pay coronavirus claims at its international unit.
