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Top Stories / Ad / Most Recent
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The carrier’s share price fell to $21.16 per share at close of markets.
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The stock-performance-related plan comes as the carrier extends Dominic Silvester's contract, and those of the president and COO, by three years.
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The carrier is to book $140mn of weather-related losses and $29mn from agricultural reinsurance.
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The coverholder is the first multi-line, independent MGA to be incorporated in Bermuda.
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Rate growth fails to meet early expectations but the market is clearly tightening in aggregate.
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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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The agency said bespoke and fee business would drive future growth at the carrier.
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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 live carrier will cease writing business with immediate effect and become a platform for the legacy acquirer's Asian run-off expansion.
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