“It’s great to acknowledge that the continuous improvements we are making to become a high-performing company are paying off,” said Argo Group President and Chief Executive Officer Mark E. Watson III in Argo’s newly released annual report.
One example? The company’s success in its Excess & Surplus Lines business.
Using new technologies, Argo Group was able to better analyze and select risk, Watson said. The new technologies also allowed Argo to increase the number of submissions it responds to and freed up underwriters to reach out to new clients. The result was 10-percent growth in Argo’s core casualty business.
The company’s Commercial Specialty segment also was particularly strong in 2016. “Trident Public Risk Solutions found innovative ways to grow our public-entity business across the United States,” Watson said. At the same time, Argo Surety is logging its ninth consecutive year of growth.
“In 2016, gross written premiums were $691.9 million for this segment, up $109.2 million or 18.7 percent over the same period last year,” Watson noted.
Another powerful driver for Argo in 2016 was its international businesses. This was seen most vividly in Argo’s acquisition of Ariel Re, giving Argo a second Lloyd’s of London syndicate.
“In London, we are now recognized by key brokers as a leading underwriting firm,” Watson said. “Our announcement of our acquisition of Ariel Re has earned widespread interest.”
For Watson and the entire Argo team, 2016 proved the company is ready with the tools, expertise and relationships it needs to further pursue Argo’s vision to be a leading specialty underwriter.
Learn more about Argo’s success in the company’s recently released 2016 annual report: argolimited.com/report-2016