Argo
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KPMG has been appointed to succeed its Big Four rival as the up-for-sale Bermudian tries to turn the page on its delayed annual filings. -
Selling Argo may be harder than you think given its Lloyd’s operation and questions around balance sheet strength.
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Insurers could face pressure if interest rate and recession fears intersect with worsening loss cost trends.
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Last month, Argo’s board announced they were looking at an “exploration of strategic alternatives” for the company.
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The remark addressed Argo’s Q4 $132mn reserve charge that fueled activist claims that the company should be sold.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Q1 net adverse prior year reserve development was $3.4mn, or 0.7 points on the LR, up from last year’s $1mn net reserve charge.
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Inside P&C’s news team canters through the week’s key developments.
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The firm initiated an exploration of strategic alternatives – including a potential sale or merger.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Ron Bobman first called for the sale of the firm back in September 2021, and recently launched a proxy campaign to join its board.
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The embattled carrier has faced mounting pressure from investors to sell the business.
