Argo Group Reports 2021 Third Quarter Results

Argo Group Reports 2021 Third Quarter Results

Net Income EPS of $0.56 per diluted common share and Operating Income EPS of $0.91 per diluted common share driven by continued strong growth in the ongoing business, reduced catastrophe exposure and increased investment income.

  • Continued Growth: Strong growth from the ongoing business in both the U.S. and International segments reflecting underwriting actions; market conditions remain favorable for continued growth
  • Reduced Catastrophe Losses: Total catastrophe losses of $27.3 million, down from $71.2 million in the third quarter of 2020
  • Improved Underwriting Margin: The combined ratio improved 9.8 points, reflecting continued growth in strategic lines, reduced impact of ceded reinsurance on net earned premiums and lower catastrophe losses

HAMILTON, Bermuda – November 2, 2021 – Argo Group International Holdings, Ltd. (NYSE: ARGO) (“Argo” or the “Company”) today announced financial results for the three and nine months ended September 30, 2021. Argo reported third quarter 2021 net income attributable to common shareholders of $19.8 million or $0.56 per diluted common share, compared to a net loss attributable to common shareholders of $(25.1) million or $(0.72) per diluted common share for the 2020 third quarter. Operating income in the third quarter of 2021 was $31.7 million or $0.91 per diluted common share, compared to an operating loss of $(10.0) million or $(0.29) per diluted common share for the 2020 third quarter.

View the 2021 3rd Quarter Recap

Contact:

Gregory Charpentier
AVP, Investor Relations and Corporate Finance
978-387-4150
[email protected]

David Snowden
Senior Vice President, Communications
210-321-2104
[email protected]

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