Key Developments For Argo Group International Holdings, Ltd.
Argo Group International Holdings, Ltd. (AGII.O) (Nasdaq)
Argo Group International Holdings Ltd Merges Grocers Insurance And Great Central Insurance Under New Banner of Argo Select
Argo Group International Holdings Ltd announced that it has merged its specialty niche insurers, Grocers Insurance and Great Central Insurance, under the brand name Argo Select.
Argo Group International Holdings Ltd Consolidates Its Public Entity Business Under The Trident Name
Argo Group International Holdings Ltd announced that 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. 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 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.
Argo Group International Holdings, Ltd Renews And Expands Revolving Credit Facility
Argo Group International Holdings, Ltd announced the renewal and expansion of its revolving credit facility to USD100 million. The existing facility, which was set to expire on March 6, 2009, has now been replaced by a new, 364-day facility. The terms of the new facility were expanded to allow for borrowings by various Argo Group companies, in USD and other currencies, for general corporate purposes. J.P. Morgan Securities Inc. and Wachovia Capital Markets LLC were joint lead arrangers for the facility.
Argo Group International Holdings, Ltd Forms Casualty & Professional Risks Division
Argo Group International Holdings, Ltd announced that that it has established a Casualty and Professional Risks division within Argo Re, the Company`s Bermuda-based reinsurance operation. The newly formed division will write general and product liability, product recall, excess directors` and officers` liability, A-side primary, lead DIC (difference in conditions) and follow form, excess errors and omissions liability, primary and excess employment practices liability, and excess crime & fidelity risks, with capacity limits of up to $25 million.
Argo Group International Holdings, Ltd CEO Richard Pexton Resigns
Argo Group International Holdings, Ltd announced the resignation of Richard Pexton as Chief Executive Officer, effectively immediately.
