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Argo Group plunges into red with net loss of over $51 million

Posted On: Nov. 9, 2022 9:10 AM CST

Bermuda-based specialty insurer Argo Group International Holdings Ltd. posted a net loss of more than $51 million in the third quarter of the year, down from a net income of almost $20 million recorded in the year-ago comparable period, The Royal Gazette reported. The insurer’s total catastrophe losses reached $23.4 million, primarily due to Hurricane Ian.