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Bermuda-based Argo Group's profit falls nearly 30%

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Bermudan insurer and reinsurer Argo Group International Holdings Ltd. posted a profit of $27.9 million in the second quarter, down 28% from the same period in 2014, The Royal Gazette reported.

Gross written premiums increased 7.2% year on year to $557 million in the second quarter. Argo's international specialty segment recorded gross written premiums of $100.5 million during the period, up 3.2% year on year. Gross written premiums from Argo's commercial specialty segment totaled $92.5 million in the quarter.

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