Argo CEO Cites Successes During a Challenging 2017 – and Looks Ahead With Optimism

In the Argo Group 2017 Annual Report, CEO Mark E. Watson III focuses on the future, noting that despite significant industrywide catastrophe claims and underwriting challenges in the London market, the company finished the year in a better competitive position than it started.

The 2017 Annual Report focuses on the future of insurance – a future in which Watson says Argo is uniquely positioned to excel. “For more than a decade, we have been anticipating the transformation currently underway in our industry,” Watson says. “Specialty insurance lives at the crossroads of new ideas and new threats.”

In the annual report, Watson talks about the ways in which Argo is building its digital expertise, developing new software, investing in leading and emerging technologies and partnering with startups. He also notes Argo’s emphasis on attracting, developing and retaining a new generation of talent. “To attract them, we must prove that our industry is as dynamic and rewarding as we know it can be,” he says.

And while 2017 was a challenging year, Watson points out that Argo Group served its customers faithfully. “The resulting losses affected our bottom line,” he says, “but they also remind us that we are fulfilling our mission: We’re here to help businesses stay in business.”

And Argo will continue to do so. As Watson looks ahead, he welcomes changes. “Today, we talk about such advances as drones, autonomous vehicles, augmented reality and artificial intelligence,” he says. “These are not merely categories of risk that require expert underwriting; they are themselves engines of innovation that will create new opportunity for insurers who are able to look ahead and who are willing to keep pace. We will continue to be one of them.”

Key takeaways from 2017 Annual Report: increased profits, digital initiatives and more

  • Argo sees advances in drones, autonomous vehicles, augmented reality and artificial intelligence as new categories of risk that require expert underwriting – and engines of innovation that will create new opportunity.
  • Argo surpassed its 2017 gross written premium goal by more than 20 percent.
  • Argo continues to innovate, resulting in faster, smarter and more accurate underwriting.

Argo remains committed to employee development and supports the communities in which its employees live and work.

Learn more in the Argo Group 2017 Annual Report, including how the company envisions the future of insurance, and what it means for the businesses it insures.

Up Next

Coverage Insights

Cyber, SWAT, Tech and the Constant of Change: Argo to Represent at RIMS

When RIMS 2018 rolls into San Antonio April 15-18, Argo Group leaders will be sharing their insights on a range of relevant topics with risk managers from around the world.