Argo Group International Holdings, Ltd. has painted a picture of what’s to come when it releases its fourth quarter 2019 financial results in the final week of February, and it isn’t rosy.
The Bermuda-headquartered enterprise said it expects to report an underwriting loss of approximately US$114 million (around AU$169.8 million) for the period. Culprits include prior accident year losses of approximately US$77 million, current accident year losses of approximately US$30 million, catastrophe losses and related reinstatement premiums of approximately US$3 million, and additional operating expenses of approximately US$12 million.
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