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Argo Group Consolidates Its Public Entity Business under the Trident Name
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Leader in public entity underwriting continues growth in the Northeast U.S. SAN ANTONIO--(Business Wire)-- Argo Group International Holdings Ltd., (NasdaqGS: AGII), an international underwriter of specialty insurance and reinsurance products, announced today it has consolidated its commercial public entity insurance businesses - comprised of Trident Insurance Services and Massamont Insurance Agency - under the name Trident. Hilbert "Van" Schenck II will continue his role as president of Trident. With $180 million in gross written premium and a distribution network of 650 producers serving more than 2,000 municipalities, counties, public schools, special districts and other niche markets in 30 states, Trident is one of the largest providers of commercial insurance for small-to-intermediate sized public entities in the U.S. "Combined with Massamont, Trident has become the leading insurance provider to public entities in the New England region," said Schenck. "We understand the needs of our clients and partners more deeply than our competitors and have expanded our business in a smart, strategic and profitable way that benefits all of our clients. Consolidating our public entity operations under the Trident name serves to reinforce our collective strengths." Trident is part of Argo Group`s Commercial Specialty business segment. Trident provides an all-in-one solution for clients - giving local brokers and agents access to sales, underwriting, risk control and centralized claims management capabilities, led by a management team with deep expertise in public entity insurance. Trident also is a leading provider of commercial lines insurance to select markets in the Northeast U.S. including petroleum marketers, private educators, septic haulers and school bus operators, among others. "Since Trident`s market entrance in 2000, we have quickly attained market leadership in our specialty niche," said Michael E. Arledge, president of Argo Group`s Commercial Specialty segment. "Under the Trident brand, we`ll continue to grow our business and deepen our capabilities in strategic markets. I am confident that Van Schenck`s strong leadership and market expertise will underscore this business segment`s continued success." ABOUT ARGO GROUP INTERNATIONAL HOLDINGS, LTD. Headquartered in Hamilton, Bermuda, Argo Group International Holdings, Ltd. (NasdaqGS: AGII) is an international underwriter of specialty insurance and reinsurance products in the property and casualty market. Argo Group offers a full line of high-quality products and services designed to meet the unique coverage and claims handling needs of businesses in four primary segments: Excess and Surplus Lines, Commercial Specialty, Reinsurance, and International Specialty. Information on Argo Group and its subsidiaries is available at www.argolimited.com. Trident Jim Tyrrell, 617-478-5217 VP Marketing JTyrrell@tridentinsurance.net or Argo Group US Rebecca Kelley, 210-321-8547 rkelley@argogroupus.com Copyright Business Wire 2009
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