Argo warns of $100mn Q3 charge to secure new Enstar LPT for US book
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Argo warns of $100mn Q3 charge to secure new Enstar LPT for US book


Argo has agreed to a loss-portfolio transfer with Enstar for its US insurance back-book and will accept an after-tax charge of $100mn in Q3 to secure the cover.

The deal structure includes a $75mn loss corridor that Argo must retain before reserve deterioration starts to impact Enstar, leaving scope for adverse development from the unit to continue to impact its numbers after the $132mn charge taken in...

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