Bermuda
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The ratings agency highlights considerable staff turnover, a fluctuating business strategy and soft market growth.
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Net catastrophe exposure assumed by cedants fell by 14.8 percent year on year.
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A shift back to rated and occurrence structures is occurring as aggregate terms were heavily revised. -
The meeting was moved up from a previous date in May after five directors stepped down.
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The activist investor called on the carrier to elect shareholder-nominated directors.
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With Lloyd’s having ventured down a rabbit hole of reinvention, does Bermuda stand to benefit?
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The agency said bespoke and fee business would drive future growth at the carrier.
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An ever-clearer picture is emerging of what winning and losing looks like in a hardening market.
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Joining the board is Anne Melissa Dowling, a former insurance regulator in Connecticut and Illinois.
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The former executive’s business travel has been restricted as part of the exit deal.
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A proposal for a special meeting from activist fund Voce Capital requires the backing of at least 10 percent of Argo shareholders.
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The issues lag the size of expiring ILS cover for both carriers.
