Higher US reserve charges, cat losses send Argo Q2 CoR up 11.1 points to 107.3%
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Higher US reserve charges, cat losses send Argo Q2 CoR up 11.1 points to 107.3%

Jairo Ibarra
07 August 2023
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A reserve charge of $26.4mn, compared with $16.3mn a year ago, pushed Argo's Q2 combined ratio up 11.1 points to 107.3% as the insurer was also hit with higher catastrophe losses during the quarter.

Argo said its US operations drove the net adverse development with a $25.4mn hit, up from $6.7mn in Q2 last year, primarily attributable to business lines the company has exited.

The

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Jairo Ibarra
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