Argo Group Announces Executive Appointments
HAMILTON, Bermuda--(BUSINESS WIRE)-- Argo Group International Holdings, Ltd. (NASDAQ: AGII), an international underwriter of specialty insurance and reinsurance products, announced today that David Harris has been hired as managing director of Argo Group's Syndicate 1200 at Lloyd's. Mr. Harris succeeds Jeff Radke who will take on responsibility for group-wide operations for Argo.
"We've made good progress over the past few years at improving our operations to increase efficiencies, reduce operating expenses, and position ourselves for continued growth," said Argo Group President and Chief Executive Officer Mark E. Watson III. "The newly created head of group operations position will enable us to accelerate the progress we've been making in a number of key areas. Jeff has overseen a tremendous turnaround in all aspects of our Syndicate in London over the past two years and I'm excited that he'll bring that experience to this broader role."
Mr. Harris brings to Argo more than 25 years experience in the London insurance market. He most recently spent nearly ten years with Amlin plc in various roles including international development director, syndicate managing director, and chief operating officer. "David brings the ideal experience and reputation in the market to build upon the solid foundation that Jeff has established at our Syndicate," commented Mr. Watson. "We're fortunate to have him join our executive team."
Both appointments are effective immediately, pending regulatory approval.
Argo Group also announced the resignation of Executive Vice President Barbara Bufkin who will leave the company in mid-June. Ms. Bufkin, who has led business development and ceded reinsurance functions since joining Argo in 2001, will be leaving to pursue new interests in the marketplace. "Barbara has been a champion for Argo in building and maintaining our key relationships with brokers and reinsurance partners," stated Mr. Watson. "While we'll miss her contribution to the company, we wish her the very best in her new endeavors and we hope to have the opportunity to work with her again in a different capacity."
About Argo Group International Holdings, Ltd.
Argo Group International Holdings, Ltd. (NASDAQ: AGII) is an international underwriter of specialty insurance and reinsurance products in the property and casualty market. Through its operating subsidiaries, Argo Group offers a full line of products and services designed to meet the unique coverage and claims handling needs of businesses in four primary segments: Excess & Surplus Lines, Commercial Specialty, International Specialty and Syndicate 1200. Argo Group's worldwide insurance subsidiaries are rated 'A' (Excellent) by A.M. Best with a stable outlook and its U.S. insurance subsidiaries are rated 'A-' (Strong) by Standard & Poor's with a stable outlook. For more information, visit www.argolimited.com.
This press release contains certain statements that are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are qualified by the inherent risks and uncertainties surrounding future expectations generally and also may differ materially from actual future experience involving any one or more of such statements. For a more detailed discussion of such risks and uncertainties, see Argo Group's filings with the SEC. The inclusion of a forward-looking statement herein should not be regarded as a representation by Argo Group that Argo Group's objectives will be achieved. Argo Group undertakes no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise.
Argo Group International Holdings, Ltd.
Lisa Scannell, 617-235-6138
VP, Marketing & Communications
KEYWORDS: United Kingdom United States Bermuda Europe North America Caribbean Texas
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