![]() When the financial results were released, executive chair and chief executive Thomas A. In terms of underwriting in the quarter, the company’s US operations enjoyed an underwriting income while the international operations reported an underwriting loss. ![]() The corresponding figures in 2021 were higher. ![]() Meanwhile, operating earnings in Q3 and 9M stood at $15.5 million and $89.8 million, respectively. Offloading Argo Underwriting Agency was part of the group’s simplification efforts. “The increase was primarily driven by $34.2 million of pre-tax realized losses related to the impairment of assets that will be transferred upon the close of the company’s previously announced loss portfolio transfer transaction with a wholly owned subsidiary of Enstar Group Limited.”Īrgo went on to outline: “The net loss attributable to common shareholders in the third quarter 2022 also included a $28.5 million impairment of goodwill and intangible assets related to the announced sale of Argo Underwriting Agency Limited and its Lloyd’s Syndicate 1200.” “The net loss attributable to common shareholders in the third quarter 2022 included pre-tax net realized investment and other losses of $44.7 million, compared to $5.3 million of pre-tax net realized investment and other losses in the prior year third quarter,” noted the insurance group, which reported lower catastrophe losses in the quarter despite elevated industry catastrophe losses. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |