Results
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Six-month figures beat long-term average of $20bn with North American natural disasters driving the majority of the losses.
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The firm grew its cat book 13% in the June-July renewals. -
The group-wide impact came to $2.5bn including the firm's life and insurance businesses.
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The Australian insurer had a relatively low reinsurance trigger on its UK BI loss exposure.
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Lower-than-average major losses helped offset nearly $800mn in pandemic-related claims.
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This week the team looks at the underperformance of Bermudian syndicates at Lloyd’s.
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The estimate is in line with Argo's earlier projection and will likely precede additional announcements from the sector in the coming weeks.
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Investment returns rebounded to a 2.7 percent gain for the half-year to 30 April.
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The restructure of finances also brings CDPQ in as debt provider and lines up a £300mn+ M&A war chest.
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Four severe weather events in Texas and the Midwest generate about 80 percent of the claims.
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The sidecar’s loss ratio improved by 30 points year on year.
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The result fell below the 10-year monthly average of an 0.11 percent gain.
