{"id":405209,"date":"2020-12-23T11:03:16","date_gmt":"2020-12-23T16:03:16","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=405209"},"modified":"2020-12-23T11:03:16","modified_gmt":"2020-12-23T16:03:16","slug":"argo-group-announces-sale-of-its-italian-business","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/argo-group-announces-sale-of-its-italian-business\/","title":{"rendered":"Argo Group Announces Sale of its Italian Business"},"content":{"rendered":"

<\/p>\n

Argo Group Announces Sale of its Italian Business<\/b><\/p>\n

HAMILTON, Bermuda–(BUSINESS WIRE<\/a>)–
\nArgo Group International Holdings, Ltd. (NYSE: ARGO), an underwriter of specialty insurance products, today announced an agreement to sell its Italian operations, ArgoGlobal Assicurazioni S.p.A (\u201cAGA\u201d) to Perfuturo Capital AG (\u201cPerfuturo\u201d), a Swiss Holding Company. Perfuturo is fully owned by Philantra Holding AG \u2013 a green, technology and renewable energy specialist. Closing of the transaction is subject to regulatory approval and is expected to occur in early 2021.\n<\/p>\n

\n\u201cWe are confident that Perfuturo\u2019s expertise and knowledge of the European market will allow AGA to thrive,\u201d said Matt Harris, Argo Group head of international operations. \u201cThis transaction aligns with our strategy to simplify the business and streamline operations.\n<\/p>\n

\n\u201cArgo Group will continue to focus on specialty insurance lines of business that we expect will result in profitable growth and improved shareholder value,\u201d Harris said.\n<\/p>\n

\n“Perfuturo is excited to be investing in AGA and bringing on board talented professionals with unparalleled insurance market expertise and knowledge of the Italian market,\u201d said Perfuturo\u2019s Chief Executive Officer Stephan Kochem. \u201cWith the financial strength and European experience of our group, we will pursue our ambition of building a world-class insurance business in Italy.\u201d\n<\/p>\n

ABOUT ARGO GROUP INTERNATIONAL HOLDINGS LTD.<\/b><\/p>\n

\nArgo Group International Holdings Ltd. (NYSE: ARGO) is an underwriter of specialty insurance products in the property and casualty market. Argo offers a full line of products and services designed to meet the unique coverage and claims-handling needs of businesses in two primary segments: U.S. Operations and International Operations. Argo Group and its insurance subsidiaries are rated \u201bA-\u2019 by Standard & Poor\u2019s. Argo\u2019s insurance subsidiaries are rated \u201bA-\u2019 by A.M. Best. More information on Argo and its subsidiaries is available at argogroup.com<\/a>.\n<\/p>\n

FORWARD-LOOKING STATEMENTS<\/b><\/p>\n

\nThis press release includes forward-looking statements that reflect our current views with respect to future events and financial performance. Forward-looking statements include all statements that do not relate solely to historical or current facts, and can be identified by the use of words such as \u201cexpect,\u201d \u201cintend,\u201d \u201cplan,\u201d \u201cbelieve,\u201d \u201cdo not believe,\u201d \u201caim,\u201d \u201cproject,\u201d \u201canticipate,\u201d \u201cseek,\u201d \u201cwill,\u201d \u201clikely,\u201d \u201cassume,\u201d \u201cestimate,\u201d \u201cmay,\u201d \u201ccontinue,\u201d \u201cguidance,\u201d \u201cobjective,\u201d \u201cremain optimistic,\u201d \u201coutlook,\u201d \u201ctrends,\u201d \u201cfuture,\u201d \u201ccould,\u201d \u201cwould,\u201d \u201cshould,\u201d \u201ctarget,\u201d \u201con track\u201d and similar expressions of a future or forward-looking nature. Such statements are subject to certain risks and uncertainties that could cause actual events or results to differ materially. For a more detailed discussion of such risks and uncertainties, see Item 1A, \u201cRisk Factors\u201d in Argo\u2019s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, as supplemented in Argo\u2019s subsequent Quarterly Reports on Form 10-Q, and in other filings with the Securities and Exchange Commission (\u201cSEC\u201d). The inclusion of a forward-looking statement herein should not be regarded as a representation by Argo that Argo\u2019s objectives will be achieved. Argo undertakes no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise. You should not place undue reliance on any such statements.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20201223005380\/en\/<\/a><\/span><\/p>\n

Investors:
\n<\/b>
Brett Shirreffs
\n
Head of Investor Relations
\n
212-607-8830
\n
brett.shirreffs@argogroupus.com<\/a><\/p>\n

Media:
\n<\/b>
David Snowden
\n
Senior Vice President, Group Communications
\n
210-321-2104
\n
david.snowden@argogroupus.com<\/a><\/p>\n

KEYWORDS:<\/b> United States Caribbean Bermuda North America Italy Europe Texas<\/p>\n

INDUSTRY KEYWORDS:<\/b> Insurance Professional Services<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Argo Group Announces Sale of its Italian Business HAMILTON, Bermuda–(BUSINESS WIRE)– Argo Group International Holdings, Ltd. (NYSE: ARGO), an underwriter of specialty insurance products, today announced an agreement to sell its Italian operations, ArgoGlobal Assicurazioni S.p.A (\u201cAGA\u201d) to Perfuturo Capital AG (\u201cPerfuturo\u201d), a Swiss Holding Company. Perfuturo is fully owned by Philantra Holding AG \u2013 a green, technology and renewable energy specialist. Closing of the transaction is subject to regulatory approval and is expected to occur in early 2021. \u201cWe are confident that Perfuturo\u2019s expertise and knowledge of the European market will allow AGA to thrive,\u201d said Matt Harris, Argo Group head of international operations. \u201cThis transaction aligns with our strategy to simplify the business and streamline operations. \u201cArgo Group … <\/p>\n

Continue reading “Argo Group Announces Sale of its Italian Business”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-405209","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nArgo Group Announces Sale of its Italian Business - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/argo-group-announces-sale-of-its-italian-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Argo Group Announces Sale of its Italian Business - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Argo Group Announces Sale of its Italian Business HAMILTON, Bermuda–(BUSINESS WIRE)– Argo Group International Holdings, Ltd. (NYSE: ARGO), an underwriter of specialty insurance products, today announced an agreement to sell its Italian operations, ArgoGlobal Assicurazioni S.p.A (\u201cAGA\u201d) to Perfuturo Capital AG (\u201cPerfuturo\u201d), a Swiss Holding Company. Perfuturo is fully owned by Philantra Holding AG \u2013 a green, technology and renewable energy specialist. Closing of the transaction is subject to regulatory approval and is expected to occur in early 2021. \u201cWe are confident that Perfuturo\u2019s expertise and knowledge of the European market will allow AGA to thrive,\u201d said Matt Harris, Argo Group head of international operations. \u201cThis transaction aligns with our strategy to simplify the business and streamline operations. \u201cArgo Group … Continue reading "Argo Group Announces Sale of its Italian Business"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/argo-group-announces-sale-of-its-italian-business\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-23T16:03:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20201223005380r1&sid=flmnd&distro=nx&lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/argo-group-announces-sale-of-its-italian-business\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/argo-group-announces-sale-of-its-italian-business\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Argo Group Announces Sale of its Italian Business\",\"datePublished\":\"2020-12-23T16:03:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/argo-group-announces-sale-of-its-italian-business\\\/\"},\"wordCount\":570,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/argo-group-announces-sale-of-its-italian-business\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20201223005380r1&sid=flmnd&distro=nx&lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/argo-group-announces-sale-of-its-italian-business\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/argo-group-announces-sale-of-its-italian-business\\\/\",\"name\":\"Argo Group Announces Sale of its Italian Business - 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