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Argo Group : Everything you need to know

Headquarters address: 110 Pitts Bay Road, Pembroke, Hamilton 08, Bermuda
Year established: 1948
Employees (size): 1,500+
Global locations: 27
Gross written premiums: US$3.18 billion (2021)
Total assets: US$10.3 billion (2021)
Underwriting expertise: Property & casualty insurance
Key people: Thomas A. Bradley (chairman & acting CEO), Kevin J. Rehnberg (CEO), Scott Kirk (chief financial officer), Robert Katzman (chief actuary), Susan Comparato (chief administrative officer), Mark Wade (chief claims officer), Mark H. Rose (chief investment officer), Allison Kiene (general counsel), Michael Murphy (chief internal auditor), Alex Hindson (chief risk & sustainability officer)

Argo Group International Holdings is an international underwriter of specialty insurance products as well as reinsurance. In the P&C insurance market, Argo’s products are distributed through a network of appointed and non-appointed agencies and brokers. On the reinsurance side, Ariel Re, which is a member of Argo Group and was acquired by the company in 2016, underwrites a global portfolio of reinsurance products via the Bermuda-based Class reinsurance company and existing Lloyd’s syndicates, in addition to other capital bases. In 2020, Argo Group reached an agreement to sell Ariel Re to Pelican Ventures and J.C. Flowers & Co., signaling its exit from the reinsurance business to “focus on specialty insurance lines of business.”

Argo Group in the news

 

Key people

Kevin J. Rehnberg – chief executive officer

Rehnberg previously served as executive vice president for specialty lines at OneBeacon before joining Argo Group. At OneBeacon, the leader oversaw specialty underwriting operations, and was responsible for acquiring and building out new lines of specialty business. Rehnberg has also held positions at The St. Paul Travelers Companies, Liberty International, and Chubb Corporation. In March 2022, Rehnberg took a medical leave of absence, with Thomas A. Bradley temporarily taking over the P&C insurer’s top post.

Thomas A. Bradley – chairman & acting chief executive officer

Bradley became a director of Argo Group International Holdings, Ltd., in 2018 and was appointed as board chairman in 2022. He retired from Allied World Assurance Company Holdings, AG in July 2017. There, he served as chief financial officer and executive vice-president since 2012. Bradley also previously served as executive vice-president and chief financial officer for two other public companies, Fair Isaac Corporation and the St. Paul Companies.

He also held senior financial and operational positions at Zurich Insurance Group, including as chief financial officer for North America and CEO of the Universal Underwriters Group (now Zurich Direct Markets). Bradley currently serves on the board of directors for Horace Mann Educators Corporation and previously served on the board of directors for Nuveen Investments, Inc. In March 2022, he had temporarily taken over Argo Group’s top post after CEO Kevin J. Rehnberg took a medical leave of absence.

 

Culture

Argo Group is invested in the next generations of leaders, both inside and outside the insurance industry. In August 2019, the company announced that it was awarding a US$10,000 scholarship to Mi Pham, a rising senior at St. John’s University’s School of Risk Management, Insurance and Actuarial Science in New York City.

“We’re honoured to present the ‘Sea Change’ Scholarship for Women in Insurance to Mi as she finishes her education and embarks on her career,” said Argo Group’s Gary Grose. “At Argo, we are committed to encouraging diversity in the workplace and opening doors for women looking to pursue insurance.”

Argo Group has also sponsored the Formula E DRAGON race team for the past few years, with the aim of investing in robotics and STEM education for high schoolers.

“At Argo Group, we’re very keen to invest in future generations. The insurance industry has all these retirements coming up, so we really need to start appealing to the next generation,” said Grose. “We think engineering and sciences appeal to the next generation – and they’re two business careers that heavily influence the decisions we make in the insurance industry.”

More broadly, Argo Group established The Argo Foundation in 2009 in Bermuda (the country where the company is based), the mission of which is to support the development and well-being of people under 18 years old. The foundation invests in programs and services that help to enrich the lives of young people in Bermuda.

Argo Group : In the news