Argo Team Announces Sale of its Italian Organization
3 min read
HAMILTON, Bermuda–(Business enterprise WIRE)–Dec 23, 2020–
Argo Group Worldwide Holdings, Ltd. (NYSE: ARGO), an underwriter of specialty insurance plan products and solutions, currently introduced an arrangement to offer its Italian operations, ArgoGlobal Assicurazioni S.p.A (“AGA”) to Perfuturo Money AG (“Perfuturo”), a Swiss Holding Enterprise. Perfuturo is entirely owned by Philantra Holding AG – a environmentally friendly, know-how and renewable strength professional. Closing of the transaction is topic to regulatory approval and is expected to occur in early 2021.
“We are assured that Perfuturo’s abilities and know-how of the European industry will allow AGA to prosper,” said Matt Harris, Argo Team head of international functions. “This transaction aligns with our tactic to simplify the enterprise and streamline functions.
“Argo Group will proceed to concentration on specialty insurance plan lines of enterprise that we be expecting will result in financially rewarding expansion and improved shareholder price,” Harris reported.
“Perfuturo is enthusiastic to be investing in AGA and bringing on board talented specialists with unparalleled insurance plan current market expertise and awareness of the Italian industry,” reported Perfuturo’s Main Govt Officer Stephan Kochem. “With the economic toughness and European encounter of our group, we will go after our ambition of constructing a environment-course insurance policy organization in Italy.”
ABOUT ARGO Team Worldwide HOLDINGS LTD.
Argo Group International Holdings Ltd. (NYSE: ARGO) is an underwriter of specialty insurance coverage products in the property and casualty industry. Argo features a complete line of solutions and services built to meet up with the exclusive protection and statements-dealing with desires of organizations in two main segments: U.S. Operations and Intercontinental Operations. Argo Group and its insurance subsidiaries are rated ‛A-’ by Conventional & Poor’s. Argo’s coverage subsidiaries are rated ‛A-’ by A.M. Best. More facts on Argo and its subsidiaries is accessible at argogroup.com.
Forward-Wanting STATEMENTS
This push launch incorporates ahead-wanting statements that reflect our current sights with regard to long term functions and economical general performance. Forward-hunting statements involve all statements that do not relate exclusively to historic or present info, and can be discovered by the use of phrases this kind of as “expect,” “intend,” “plan,” “believe,” “do not consider,” “aim,” “project,” “anticipate,” “seek,” “will,” “likely,” “assume,” “estimate,” “may,” “continue,” “guidance,” “objective,” “remain optimistic,” “outlook,” “trends,” “future,” “could,” “would,” “should,” “target,” “on track” and identical expressions of a upcoming or ahead-seeking character. This sort of statements are topic to particular hazards and uncertainties that could bring about actual activities or benefits to vary materially. For a extra specific dialogue of this kind of hazards and uncertainties, see Merchandise 1A, “Risk Factors” in Argo’s Annual Report on Variety 10-K for the fiscal year finished December 31, 2019, as supplemented in Argo’s subsequent Quarterly Studies on Kind 10-Q, and in other filings with the Securities and Exchange Fee (“SEC”). The inclusion of a ahead-looking assertion herein should really not be regarded as a representation by Argo that Argo’s aims will be realized. Argo undertakes no obligation to publicly update ahead-looking statements, no matter if as a outcome of new data, future occasions or otherwise. You must not location undue reliance on any these types of statements.
See resource variation on businesswire.com:https://www.businesswire.com/news/property/20201223005380/en/
Speak to: Investors:
Brett Shirreffs
Head of Trader Relations
212-607-8830
David Snowden
Senior Vice President, Team Communications
210-321-2104
Keyword: UNITED STATES CARIBBEAN BERMUDA NORTH The usa ITALY EUROPE TEXAS
Field Search term: Insurance Skilled Products and services
Supply: Argo Team Intercontinental Holdings Ltd.
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PUB: 12/23/2020 11:00 AM/DISC: 12/23/2020 11:01 AM
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