Argo falls to Q2 UW loss on $26mn reserve charge and 7.7pts jump in core LR

Published: Tue 8 Aug 2023

Argo dropped to a $22mn underwriting loss in the second quarter, driven by a 7.7pt increase in the insurer’s core loss ratio and a $25mn reserve charge in its US operations that the company said mostly came from business lines it exited.