Argo Group’s GWP rises in Q3 2016

Argo Group has reported a 10.2 percent increase in its gross written premiums (GWP) in the third quarter of 2016, while its combined ratio remained stable.

The re/insurer’s GWP increased to $585.4 million in the third quarter of 2016, compared with $531.4 million in the same period of 2015.

Argo Group's GWP for the first nine months of the year came to $1.67 billion, a rise of 6.4 percent from the same period of 2015.

The combined ratio remained the same in the third quarter at 96.2 percent, compared with the same period of the year before.

In the first nine months of 2016 the combined ratio was slightly lower at 95.2 percent.

The net income of the group was $55.2 million in the third quarter, up from $35.3 million in the same period of 2015.