Argo Group’s gross written premiums (GWP) increased by 4.4 percent to $1.08 billion in the first half of 2016, according to its mid-year report.
Argo stated that the highest increase in GWP came from its commercial specialty segment which rose to $295.1 million in the first half of this year, compared with $251.9 million in the same period of 2015.
Its GWP in its excess and surplus segment increased slightly by 2.6 percent to $314.3 million in the first half of 2016, compared with $306.4 million in 2015, as well as a 1.5 percent increase in its syndicate 1200 segment GWP to $317.6 million in the first half of 2016.
However, there was a 6.1 percent dip in its GWP within its international specialty sector to $153.2 million in the first half of 2016, compared with $163.1 million in the same period of last year and its combined ratio has increased by 0.3 percentage points to 94.8 percent in the first half of this year.
“The company’s performance is improving, and we’re now getting closer to meeting our own high expectations,” said Mark Watson, chief executive officer of Argo.
"While much of this comes from persistent focus on our longer-term strategy, our progress is due in great part to our employees’ commitment to execution and innovation. Today, we do our work faster and with fewer steps than before. We’re making the experience of working with Argo more simple, intimate and digital.”
Argo Group, Bermuda, North America, Insurance, Specialty, Results, Mark Watson