Argo Group cedes more premiums to third-party capital partners

Posted On: Nov. 7, 2018 4:50 AM CST

Bermuda-based Argo Group International Holdings Ltd. ceded more than $54 million of gross written premiums to third-party capital partners in the third quarter, up 80% from $30 million in the second quarter, Artemis.bm reports. The insurer is shifting its strategy to underwrite more risk for third-party investors through quota shares and insurance-linked securities. Argo Group's catastrophe losses totaled $19 million while underwriting profit amounted to $23.5 million.