Our Bermuda team advised Argo Group International Holdings, Ltd., an underwriter of specialty insurance and reinsurance products in the property and casualty market, in an agreement to sell its reinsurance business, Ariel Re.
Argo Group will continue to focus on specialty insurance lines of business. Under the terms of the agreement, the buying group's corporate member will provide Ariel Re's capital for the 2021 year of account, and Argo Group has agreed to retain historical reserves.
Argo offers a full line of products and services designed to meet the unique coverage and claims-handling needs of businesses in two primary segments: U.S. Operations and International Operations.
Partner Brad Adderley led the deal with assistance from Senior Associate Bradley Houlston and Associates John Small and Jason Green.