Argo US Q1 $5mn reserve charge ‘unrelated’ to Q4’s adverse development: CFO
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Argo US Q1 $5mn reserve charge ‘unrelated’ to Q4’s adverse development: CFO

Jairo Ibarra
May 03, 2022
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Argo Group’s CFO Scott Kirk has said that the Q1 $5mn unfavorable reserve development disclosed yesterday in the firm’s US operation results was not connected to last quarter’s $132mn reserve charge that fueled activist investors’ claims that the company should be sold.

Kirk was speaking during the company’s Q1 2022 earnings call with analysts.

In Q4 2021, Argo reported that its US construction defect book had caused ~60% of adverse development.

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Jairo Ibarra
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