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Argo Group Announces Sale of its Italian Business

HAMILTON, Bermuda–(Company WIRE)–Dec 23, 2020–

Argo Group Worldwide Holdings, Ltd. (NYSE: ARGO), an underwriter of specialty insurance policy merchandise, these days announced an settlement to offer its Italian operations, ArgoGlobal Assicurazioni S.p.A (“AGA”) to Perfuturo Funds AG (“Perfuturo”), a Swiss Holding Organization. Perfuturo is entirely owned by Philantra Holding AG – a environmentally friendly, know-how and renewable strength professional. Closing of the transaction is matter to regulatory approval and is expected to arise in early 2021.

“We are confident that Perfuturo’s experience and expertise of the European market will allow for AGA to thrive,” claimed Matt Harris, Argo Team head of international functions. “This transaction aligns with our tactic to simplify the business enterprise and streamline operations.

“Argo Team will keep on to concentrate on specialty coverage lines of company that we count on will result in successful progress and improved shareholder price,” Harris mentioned.

“Perfuturo is thrilled to be investing in AGA and bringing on board talented pros with unparalleled insurance market place know-how and know-how of the Italian market place,” mentioned Perfuturo’s Main Govt Officer Stephan Kochem. “With the money power and European experience of our team, we will pursue our ambition of building a world-class insurance policy small business in Italy.”


Argo Group International Holdings Ltd. (NYSE: ARGO) is an underwriter of specialty insurance coverage solutions in the house and casualty sector. Argo provides a complete line of products and services made to meet up with the one of a kind coverage and promises-dealing with desires of enterprises in two primary segments: U.S. Operations and Intercontinental Functions. Argo Group and its insurance subsidiaries are rated ‛A-’ by Conventional & Poor’s. Argo’s insurance plan subsidiaries are rated ‛A-’ by A.M. Most effective. Far more information on Argo and its subsidiaries is out there at argogroup.com.

Forward-On the lookout STATEMENTS

This push launch involves ahead-on the lookout statements that mirror our latest sights with respect to long run occasions and financial general performance. Forward-wanting statements include all statements that do not relate entirely to historic or present specifics, and can be discovered by the use of words and phrases these kinds of as “expect,” “intend,” “plan,” “believe,” “do not feel,” “aim,” “project,” “anticipate,” “seek,” “will,” “likely,” “assume,” “estimate,” “may,” “continue,” “guidance,” “objective,” “remain optimistic,” “outlook,” “trends,” “future,” “could,” “would,” “should,” “target,” “on track” and comparable expressions of a long term or forward-on the lookout character. This kind of statements are subject to specified dangers and uncertainties that could cause genuine activities or benefits to differ materially. For a extra comprehensive discussion of these challenges and uncertainties, see Item 1A, “Risk Factors” in Argo’s Once-a-year Report on Variety 10-K for the fiscal calendar year ended December 31, 2019, as supplemented in Argo’s subsequent Quarterly Reports on Form 10-Q, and in other filings with the Securities and Exchange Fee (“SEC”). The inclusion of a ahead-seeking statement herein need to not be regarded as a illustration by Argo that Argo’s targets will be accomplished. Argo undertakes no obligation to publicly update ahead-on the lookout statements, no matter if as a consequence of new information, long term situations or if not. You need to not position undue reliance on any this sort of statements.

Perspective resource edition on businesswire.com:https://www.businesswire.com/information/residence/20201223005380/en/

Speak to: Traders:

Brett Shirreffs

Head of Investor Relations


[email protected]:

David Snowden

Senior Vice President, Group Communications


[email protected]


Business Key phrase: Insurance policies Professional Expert services

Supply: Argo Group International Holdings Ltd.

Copyright Business enterprise Wire 2020.

PUB: 12/23/2020 11:00 AM/DISC: 12/23/2020 11:01 AM