Argo pushed to $133mn UW loss in Q4 as a result of LPT costs, $33mn reserve charge

Published: Tue 5 Sep 2023

The underwriting loss at Argo widened in the fourth quarter to $133mn - partly driven by $100mn in costs associated with its loss portfolio transfer (LPT) deal announced in August - but also hurt by $33mn in adverse development in the quarter.