Argo Group reports Q3 2018 profit
Argo could be hit by $25m in Q3 losses
Argo positive despite fall in Q1 profits
Argo Group International Holdings has released its digital 2018 mid-year report, laying out the milestones the company has achieved in the first six months of 2018 for continued growth and profitability in both US and international operations.
“We competed in new and expanding niche markets around the world, maintained rigorous discipline in risk selection, innovated products and systems with advanced technology, and offered customers exceptional service across all our platforms,” said Argo group chief executive officer Mark Watson in his letter to shareholders.
In addition to updates on Argo’s segments, the report highlights Argo’s commitment to technology and innovation.
“Nearly two decades ago, we identified technology as a transformative and potentially disruptive force that would ultimately change the way business is transacted in the insurance market,” Watson added. “Ours is an industry that has been slow to adapt to change, and so it comes as no surprise that it took longer than we anticipated for these trends to emerge. Fortunately, at Argo our size allows us to be nimble and responsive.”
The report also focuses on the future of insurance and addresses emerging trends, threats and opportunities identified in The Future of Insurance – 2018 Insights: Risks, Uncertainty and a Looming Talent Gap survey findings. Watson’s letter addresses leading emerging risk categories including cyber, climate change, talent, use of data and user connection. “The results confirm that some categories of risk are growing so fast and with such complexity that the proper level of insurance is lagging behind,” Watson concluded.
Argo, report, 2018, first half, milestones, Mark Watson, profits