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Argo records more than $61 million of net loss due to catastrophes


Bermuda-based insurer and reinsurer Argo Group International Holdings Ltd. recorded a net loss of more than $61 million in the third quarter, driven by the recent catastrophes, The Royal Gazette reported. It posted a $14.5 million in pre-tax catastrophe losses. Adjusted operating loss amounted to $57.4 million, compared with an operating income of $34.4 million in the third quarter of 2016. Gross written premiums grew 37.5% year over year to more than $805 million.

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