April 14, 2024

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Business is my step

Argo Group Announces Sale of its Italian Company

3 min read

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Argo Group International Holdings, Ltd. (NYSE: ARGO), an underwriter of specialty insurance coverage merchandise, nowadays declared an agreement to market its Italian operations, ArgoGlobal Assicurazioni S.p.A (“AGA”) to Perfuturo Capital AG (“Perfuturo”), a Swiss Keeping Company. Perfuturo is thoroughly owned by Philantra Keeping AG – a green, technological innovation and renewable strength expert. Closing of the transaction is subject to regulatory acceptance and is predicted to come about in early 2021.&#13

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“We are confident that Perfuturo’s abilities and awareness of the European market will enable AGA to prosper,” explained Matt Harris, Argo Group head of global operations. “This transaction aligns with our technique to simplify the business enterprise and streamline operations.&#13

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“Argo Team will carry on to target on specialty coverage traces of business that we expect will end result in financially rewarding progress and enhanced shareholder value,” Harris said.&#13

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“Perfuturo is excited to be investing in AGA and bringing on board proficient professionals with unparalleled insurance plan industry know-how and information of the Italian current market,” stated Perfuturo’s Chief Executive Officer Stephan Kochem. “With the money energy and European working experience of our team, we will go after our ambition of building a world-class insurance organization in Italy.”&#13

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ABOUT Argo Team Intercontinental HOLDINGS LTD.&#13
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Argo Group Intercontinental Holdings Ltd. (NYSE: ARGO) is an underwriter of specialty insurance plan solutions in the assets and casualty sector. Argo features a comprehensive line of items and providers designed to meet up with the unique coverage and promises-handling requirements of enterprises in two primary segments: U.S. Functions and Intercontinental Functions. Argo Group and its insurance plan subsidiaries are rated ?A-’ by Typical & Poor’s. Argo’s insurance policy subsidiaries are rated ?A-’ by A.M. Most effective. A lot more details on Argo and its subsidiaries is out there at argogroup.com.&#13

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Ahead-Looking STATEMENTS&#13

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This press release contains forward-hunting statements that mirror our existing views with respect to long run events and money performance. Forward-on the lookout statements consist of all statements that do not relate only to historic or existing points, and can be recognized by the use of words such as “assume,” “intend,” “system,” “believe,” “do not imagine,” “purpose,” “job,” “anticipate,” “find,” “will,” “probably,” “suppose,” “estimate,” “may perhaps,” “proceed,” “advice,” “objective,” “continue being optimistic,” “outlook,” “tendencies,” “upcoming,” “could,” “would,” “should,” “focus on,” “on track” and identical expressions of a upcoming or ahead-seeking nature. These kinds of statements are subject to specified challenges and uncertainties that could lead to real situations or benefits to vary materially. For a additional detailed dialogue of these dangers and uncertainties, see Item 1A, “Threat Factors” in Argo’s Annual Report on Kind 10-K for the fiscal 12 months ended December 31, 2019, as supplemented in Argo’s subsequent Quarterly Stories on Sort 10-Q, and in other filings with the Securities and Trade Fee (“SEC”). The inclusion of a ahead-on the lookout statement herein really should not be regarded as a illustration by Argo that Argo’s aims will be obtained. Argo undertakes no obligation to publicly update ahead-seeking statements, whether as a outcome of new facts, upcoming activities or if not. You must not put undue reliance on any these kinds of statements.&#13

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