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Argo Group US Inc. And Operating Subsidiaries Jun 11
Standard & Poors, June 2011
Abstract
Strong competitive position in selected specialty insurance niche markets. Conservative investment strategy. Strong capitalization. Recent underwriting results below peers' and high expense structure. Execution risk resulting from the parent company's rapid expansion strategy. The parent company's senior management team's relatively short tenure at the company. The counterparty credit rating on Argo Group US Inc. and the insurer financial strength ratings on its member companies (collectively referred to as AGUS or the group) are based on AGUS' diverse business mix, strong position in selected niches of the specialty lines insurance market, conservative investment strategy, and strong capitalization. Partially offsetting these positive factors are the group's weaker underwriting results compared with those of other specialty lines insurers and its high expense ratio....
Companies mentioned in this report are: Argonaut Insurance Co.,Argonaut-Midwest Insurance Co.,Select Markets Insurance Company,Argonaut-Southwest Insurance Co.,Argonaut Limited Risk Insuance Co,Colony Specialty Insurance Co.,Colony Insurance Co.,Argonaut Great Central Insurance Co.,Colony National Insurance Co.,Rockwood Casualty Insurance Co.,Argo Group US, Inc.,Argo Group International Holdings Ltd.,Argo Underwriting Agency Ltd.
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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