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International

Argo Group alters unique Harambee Re sidecar for 2015

February 12, 2015 Reprints

Bermudan insurer and reinsurer Argo Group International Holdings Ltd. has renewed a collateralized sidecar agreement Harambee Re but changed the terms to only include its reinsurance business.

Argo's original agreement with Harambee since 2013 was unique as it was the first sidecar vehicle which provided capacity for both an insurance portfolio as well as a reinsurance portfolio of business. Argo is likely to hold the specialty property insurance business itself instead of ceding it to the sidecar for 2015.

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Argo Group alters unique Harambee Re sidecar for 2015

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