Argo Group Comments on Results for First Quarter 2020, Schedules Earnings Release and Conference Call
Argo Group International Holdings, Ltd. (ARGO)
Last argo group international holdings, ltd. earnings: 2/24 04:20 pm
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investors.argolimited.com
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Source: Business Wire
HAMILTON, Bermuda--(BUSINESS WIRE)--Argo Group International Holdings, Ltd. (“Argo” or the “company”) (NYSE: ARGO), announced today that its results for the first quarter of 2020 will be adversely affected by certain loss items primarily related to the impact of the COVID-19 pandemic and volatility in global financial markets, summarized in more detail below.Argo expects to report pre-tax net catastrophe losses of $29 million, including approximately $26 million related to the COVID-19 pandemic, primarily resulting from contingency and property exposures in the company’s International Operations and property exposures in its U.S. Operations. Property losses relate to sub-limited affirmative business interruption coverage, primarily in certain International markets, as well as expected costs associated with potential litigation.“Our company has a long history of assisting policyholders as they navigate unprecedented times,” said Argo Chief Executive Officer Kevin J. Rehnberg. “Whil
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