UPDATE: Raymond James Downgrades Argo Group Int'l Holdings (ARGO) to Outperform
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Argo Group Comments on Preliminary Fourth Quarter 2021 Financial Results
February 8, 2022 4:05 PM ESTHAMILTON, Bermuda--(BUSINESS WIRE)-- Argo Group International Holdings, Ltd. (Argo) (NYSE: ARGO), announced today that its results for the fourth quarter of 2021, which ended December 31, 2021, will be negatively affected by adverse prior year reserve development and non-operating charges, summarized in more detail below.
Items affecting the fourth quarter 2021 financial results include:
Argo expects net adverse prior year reserve development to be in the range of $130 million to $140 million for the 2021 fourth quarter. Prior year adverse development was the result of the recently concluded fourth quarter 2021 reserve review. The largest... More