HAMILTON, Bermuda -- (Business Wire)
Argo Group International Holdings, Ltd. (NASDAQ: AGII),
an international underwriter of specialty insurance and reinsurance
products, announced today that Jose Ribeiro has been hired to the newly
created position of head of international. Mr. Ribeiro’s appointment is
effective immediately and he will be based in the company’s London
office.
“We charted a strategy seven years ago to become an international
specialty business,” said Argo Group President and Chief Executive
Officer Mark E. Watson III. “Since that time, we’ve built a profitable
Bermuda platform, acquired a Syndicate at Lloyd’s that is delivering
strong results, established a business in Brazil, and expanded our local
presence to Dubai, Continental Europe and Asia. Combined, these
international businesses account for nearly 50% of our gross written
premium. We’ve been looking for the right person to bring all of these
businesses together, and I’m very excited to add Jose to our executive
team. His global experience, particularly with respect to the Lloyd’s
market, Brazil and Asia, will help ensure the profitable growth of our
international operations.”
“Argo Group has built an outstanding international platform,” commented
Mr. Ribeiro. “I’m looking forward to joining such a strong management
team and continuing the company’s strategic growth in significant global
markets.”
Mr. Ribeiro joins Argo from Generali where he served as CEO of Generali
Brazil. Previously he served as Director of International Markets at
Lloyd’s of London with responsibilities spanning Europe, Asia,
Australasia, Africa and Latin America. Prior to Lloyd’s, he served as
Managing Director for Willis Group in Latin America and the Caribbean
and as president and CEO of AIG Life Companies in Brazil. Mr. Ribeiro
began his insurance career more than 25 years ago as an actuary with a
subsidiary of AIG in Portugal.
About Argo Group International Holdings, Ltd.
Argo Group International Holdings, Ltd. (NASDAQ: AGII)
is an international underwriter of specialty insurance and reinsurance
products in the property and casualty market. Through its operating
subsidiaries, Argo Group offers a full line of products and services
designed to meet the unique coverage and claims handling needs of
businesses in four primary segments: Excess & Surplus Lines, Commercial
Specialty, International Specialty and Syndicate 1200. Argo Group’s
worldwide insurance subsidiaries are rated ‘A’ (Excellent) by A.M. Best
with a stable outlook and its U.S. insurance subsidiaries are rated ‘A-’
(Strong) by Standard & Poor’s with a stable outlook. For more
information, visit www.argolimited.com.
FORWARD-LOOKING STATEMENTS
This press release contains certain statements that are "forward-looking
statements" within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934, as amended.
Such statements are qualified by the inherent risks and uncertainties
surrounding future expectations generally and also may differ materially
from actual future experience involving any one or more of such
statements. For a more detailed discussion of such risks and
uncertainties, see Argo Group's filings with the SEC. The inclusion of a
forward-looking statement herein should not be regarded as a
representation by Argo Group that Argo Group's objectives will be
achieved. Argo Group undertakes no obligation to publicly update
forward-looking statements, whether as a result of new information,
future events or otherwise.
Contacts:
Argo Group International Holdings, Ltd.
Lisa Scannell, 617-235-6138
VP,
Marketing & Communications
lscannell@argogroupus.com
Source: Argo Group International Holdings, Ltd.
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