HAMILTON, Bermuda--(BUSINESS WIRE)--Argo Group International Holdings, Ltd. (NASDAQ:AGII), an international underwriter of specialty insurance and reinsurance products, announced today that its Bermuda-based reinsurance company, Argo Re, Ltd., has entered into an agreement with Horseshoe Re Limited that will expand its reinsurance product offerings to meet the growing demands of the Insurance Linked Securities (ILS) market.
Horseshoe Re is a member of Bermuda-based Horseshoe Group, a leader in innovative solutions for the reinsurance marketplace. The exclusive arrangement builds upon Horseshoe Re’s recognized expertise in ILS transformation and Argo Re’s depth of underwriting experience and financial strength to create a seamless link between the reinsurance and capital markets. This innovative combination will provide ILS funds and other capital market investors with a flexible and efficient platform to participate in reinsurance programs that require coverage from highly rated reinsurance carriers. Argo Re maintains a financial strength rating of “A” (Excellent) from A.M. Best Company.
“Given the limited number of reinsurers available to support programs at this level in the ILS market, we saw an opportunity to address this need,” commented Horseshoe Group CEO Andre Perez. “Argo Re’s expertise in worldwide catastrophe reinsurance underwriting coupled with Argo Group’s financial strength makes them an ideal partner.”
“We are delighted to strengthen the long-term trading relationship we have developed with the Horseshoe Group in search of ever more effective reinsurance solutions for our mutual customers,” added Argo Re President Matthew Wilken.
About Argo Group
Argo Group International Holdings, Ltd. (NASDAQ:AGII) is an international underwriter of specialty insurance and reinsurance products in the property and casualty market. Through its operating subsidiaries, Argo Group offers a full line of products and services designed to meet the unique coverage and claims handling needs of businesses in four primary segments: Excess & Surplus Lines, Commercial Specialty, International Specialty and Syndicate 1200. Argo Group’s insurance subsidiaries are A.M. Best-rated ‘A’ (Excellent) and Argo Group’s U.S. insurance subsidiaries are Standard & Poor’s-rated ‘A-’ (Strong). For more information visit www.argolimited.com.
About Horseshoe Group
Horseshoe Group is the foremost independent insurance manager and reinsurance transformer dedicated to the ILS market and offers a broad array of management and advisory services to insurers and reinsurers, catastrophe bonds, sidecars, dedicated reinsurance funds, hedge funds and private equity firms, Lloyd’s affiliates and investment banks. Horseshoe Re Limited is a licensed Bermuda Class 3 separate account reinsurer. Horseshoe has offices in Bermuda, the Cayman Islands and Ireland. For more information please visit http://www.horseshoeglobal.com.