Argo
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The company is not contemplating any other major structural changes.
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The business – which writes professional liability, excess casualty and property - was marketed by investment bank RBC.
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He brings 23 years of insurance industry experience.
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Argo will initially front the business under a 100% quota agreement with ASU.
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The executive expects the Bermudian to start onboarding programs later in 2024 or early in 2025.
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“Unfortunately, it's a situation of getting rate to fund [the litigation costs] and being able to stay in the market long term,” Taylor told Insurance Insider US in an interview.
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Insurance Insider US’s morning summary of the key stories to get you up to speed fast.
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In tandem, the Bermudian promoted David Corry and Greg Chilson to heads of casualty and professional lines, respectively.
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Current CEO Thomas Bradley, who announced his intention to retire on the closure of the deal, will receive a one-time cash bonus of $1.2mn.
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The Inside P&C news team runs you through the earnings results for the day.
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The appointment follows that of Williams and Drakontaidis as head of contract surety and head of commercial surety respectively.
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