Sale of Argo Group crosses end line

Sale of Argo Group crosses end line | Insurance coverage Enterprise America

New chief govt named

Sale of Argo Group crosses finish line

Insurance coverage Information

Terry Gangcuangco

It’s official: Argo Group Worldwide Holdings is now owned by Brookfield Reinsurance.

In an replace, the acquired specialty insurance coverage underwriter stated it provides a “foundational piece” to Brookfield Reinsurance’s increasing operations.

Valued at roughly $1.1 billion, the all-cash transaction noticed Brookfield Reinsurance snap up all issued and excellent frequent shares of Argo.

“In reference to closing, Jessica Snyder will assume the position of chief govt officer of Argo, succeeding Thomas Bradley who has introduced his intention to retire upon closing,” Argo stated.

“Snyder, an skilled govt with over 30 years of business expertise, joined Argo in 2022 as President, US insurance coverage.”

In the meantime, on account of the deal, Argo’s frequent shares have ceased buying and selling on the New York Inventory Alternate.

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