RiverStone International to acquire Argo Group International Holdings Ltd.’s Malta business operations, ArgoGlobal Holdings (Malta) Ltd. and its subsidiaries.

December 20, 2021

“We are delighted to have executed a second legacy transaction with the Argo Group, which strengthens our important business relationship,” said Luke Tanzer, RiverStone International’s CEO. “We look forward to working closely with Argo through the completion phase and to continue to service ArgoGlobal SE policyholders and claimants to the high standards currently provided.”

Please read Argo Group’s press release here:

Argo Group Announces Sale of ArgoGlobal SE 

HAMILTON, BERMUDA – Dec. 20, 2021 – Argo Group International Holdings Ltd. (NYSE: ARGO), an underwriter of specialty insurance, today announced an agreement to sell its Malta business operations, ArgoGlobal Holdings (Malta) Ltd. and its subsidiaries, to Riverstone Holdings Limited (part of the RiverStone International group), an industry-leading acquirer and reinsurer of legacy and discontinued insurance businesses. Closing of the transaction is subject to regulatory approval and is expected to occur during the first half of 2022.

“This sale supports our strategy to focus on U.S.-based specialty insurance risks,” said Andy Borst, interim president of international operations. ArgoGlobal SE business was primarily focused on insuring risks in Europe and has not been actively underwriting business since 2020.

“We are delighted to have executed a second legacy transaction with the Argo Group, which strengthens our important business relationship,” said Luke Tanzer, RiverStone International’s CEO. “We look forward to working closely with Argo through the completion phase and to continue to service ArgoGlobal SE policyholders and claimants to the high standards currently provided.”

The terms of the agreement were not disclosed.

ABOUT ARGO GROUP INTERNATIONAL HOLDINGS LTD.
Argo Group International Holdings Ltd. (“Argo”) (NYSE: ARGO) is an underwriter of specialty insurance products in the property and casualty market. Argo offers a full line of products and services designed to meet the unique coverage and claims-handling needs of businesses in two primary segments: U.S. Operations and International Operations. Argo and its insurance subsidiaries are rated “A-” by Standard & Poor’s. Argo’s insurance subsidiaries are rated “A-” by AM Best. More information on Argo and its subsidiaries is available at argogroup.com.

Investors:
Greg Charpentier
Investor Relations
646-312-6622
gregory.charpentier@argogroupus.com

Media:
David Snowden
Senior Vice President, Argo Group Communications
210-321-2104
david.snowden@argogroupus.com

Federica Aversa
Global Brand & Communications Manager
+44 (0) 207 398 4329
federica.aversa@rsml.co.uk