HAMILTON, Bermuda--(BUSINESS WIRE)--Argo Group International Holdings, Ltd. (NASDAQ: AGII), an international underwriter of specialty insurance and reinsurance products, announced today that Jose Ribeiro has been hired to the newly created position of head of international. Mr. Ribeiro’s appointment is effective immediately and he will be based in the company’s London office.
“We charted a strategy seven years ago to become an international specialty business,” said Argo Group President and Chief Executive Officer Mark E. Watson III. “Since that time, we’ve built a profitable Bermuda platform, acquired a Syndicate at Lloyd’s that is delivering strong results, established a business in Brazil, and expanded our local presence to Dubai, Continental Europe and Asia. Combined, these international businesses account for nearly 50% of our gross written premium. We’ve been looking for the right person to bring all of these businesses together, and I’m very excited to add Jose to our executive team. His global experience, particularly with respect to the Lloyd’s market, Brazil and Asia, will help ensure the profitable growth of our international operations.”
“Argo Group has built an outstanding international platform,” commented Mr. Ribeiro. “I’m looking forward to joining such a strong management team and continuing the company’s strategic growth in significant global markets.”
Mr. Ribeiro joins Argo from Generali where he served as CEO of Generali Brazil. Previously he served as Director of International Markets at Lloyd’s of London with responsibilities spanning Europe, Asia, Australasia, Africa and Latin America. Prior to Lloyd’s, he served as Managing Director for Willis Group in Latin America and the Caribbean and as president and CEO of AIG Life Companies in Brazil. Mr. Ribeiro began his insurance career more than 25 years ago as an actuary with a subsidiary of AIG in Portugal.
About Argo Group International Holdings, Ltd.
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 worldwide insurance subsidiaries are rated ‘A’ (Excellent) by A.M. Best with a stable outlook and its U.S. insurance subsidiaries are rated ‘A-’ (Strong) by Standard & Poor’s with a stable outlook. For more information, visit www.argolimited.com.
This press release contains certain statements that are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are qualified by the inherent risks and uncertainties surrounding future expectations generally and also may differ materially from actual future experience involving any one or more of such statements. For a more detailed discussion of such risks and uncertainties, see Argo Group's filings with the SEC. The inclusion of a forward-looking statement herein should not be regarded as a representation by Argo Group that Argo Group's objectives will be achieved. Argo Group undertakes no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise.