Argo hit with $130mn-$140mn reserve charge in Q4
Argo is expecting a reserve charge ranging between $130mn and $140mn when it reports fourth-quarter results later this month, with most of the claims tied to construction defect and run-off business in the US from the 2017 accident years and prior.
In addition, the company says it will take a goodwill impairment charge of between $40mn and $45mn that is a write down on the value of Argo’s Syndicate 1200 business unit.
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