- Pending merger with Brookfield Reinsurance: The parties have received a majority of the required regulatory approvals. The merger agreement outside date for completing the transaction has been automatically extended from today to February 8, 2024, pursuant to the terms of the merger agreement, as all conditions to closing are satisfied other than receipt of the remaining required regulatory approvals. Both companies remain committed to closing the transaction as expeditiously as possible, and expect the transaction to close in 2023, subject to receipt of the remaining required regulatory approvals.
Hamilton, Bermuda – November 8, 2023 – Argo Group International Holdings, Ltd. (NYSE: ARGO) (“Argo” or the “company”) today announced financial results for the three and nine months ended September 30, 2023.
“We were pleased to receive a majority of the required regulatory approvals for the merger with Brookfield Reinsurance,” said Argo Executive Chairman and Chief Executive Officer, Thomas A. Bradley. “As we wait to receive the remaining required regulatory approvals, we continue to work diligently with Brookfield Reinsurance on integration planning and anticipate an orderly transition for our customers and business partners once the transaction is completed.
“Argo’s third quarter performance benefited from disciplined expense management and increased investment returns. We are encouraged by the progress of our ongoing efforts to optimize the business to deliver improved profitability moving forward and believe the company is well positioned to capitalize on its enhanced future growth prospects as part of Brookfield Reinsurance.”
View the Full 3rd Quarter Release