![]() In April 2008, Argonaut Group re-branded as Argo Group. In 2008, Trident Insurance Services acquired Massamont Insurance Agency, which specialized in insurance programs for public entities, expanding Argo's public entity footprint into New England with offices in Greenfield and Boston, Mass. The new company renamed as Argo Group International Holdings, Ltd., and moved its public company home office to Bermuda, which offered a more favorable tax structure than the United States. In 2007 they merged with Bermuda-based PXRE, entering the reinsurance market. ![]() In May 2005 they created Argonaut Specialty to underwrite accounts larger than what Colony traditionally wrote. In 2005 they acquired the renewal rights to business formerly written by Interstate Insurance Group, subsidiaries of Fireman’s Fund. In 2003 they acquired Grocers from Royal & Sun Alliance USA, expanding their Great Central platform. In 2002, they acquired Fulcrum, an excess and surplus lines underwriter from Scor. ![]() Then they entered the public entity market by founding Trident Insurance. The acquisition added products and underwriting capabilities in areas complementary to Argonaut’s previous products. (along with its subsidiaries Colony and Rockwood), an insurance holding company headquartered in Morrisville, North Carolina, for $165 million in cash. The company moved its corporate office to San Antonio, Texas, in 2001. Watson III, a board member since 1999, became President and CEO. It focused on underwriting large-account workers compensation policies. In September 1986, Teledyne Technologies formed and then spun off Argonaut Group, with Argonaut Insurance and Great Central Insurance parts of the new company. It was acquired in 1969 by Teledyne Technologies, then expanded into additional product lines and acquired Great Central Insurance. It focused on underwriting workers compensation for the California construction industry. History Origin Īrgonaut Insurance was founded in California in 1948 as the Argonaut Insurance Exchange. In 2017, the San Antonio Express News wrote that "The company has made more than $1 billion in profit over the last decade as a mid-sized player in a niche field insuring complex or hard-to-price risks other insurers won’t touch." Argo was listed on the New York Stock Exchange in May 2018. Argo's insurance subsidiaries are rated "A−" by AM Best. Argo Group and its insurance subsidiaries are rated "A−" by Standard & Poor's. Argo Group International Holdings, Ltd, or Argo Group ( NYSE: ARGO), is a Bermuda-based international underwriter of specialty insurance products in the property and casualty market.
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