Argo Group Shareholders Approve Proposed Merger With Brookfield Reinsurance In An All-Cash Transaction Valued At ~$1.1B

4/20/23 7:58:03 AM ET

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Argo Group International Holdings, Ltd. ("Argo") (NYSE:ARGO) today announced that Argo shareholders voted to approve an agreement for Brookfield Reinsurance Ltd. ("Brookfield Reinsurance") to acquire Argo in an all-cash transaction valued at approximately $1.1 billion (the "Merger").

The Merger remains subject to other customary closing conditions, including receipt of required regulatory approvals. Argo and Brookfield Reinsurance expect to complete the Merger in the second half of 2023.

Argo will file the final vote results, as certified by the independent Inspector of Election, on a Form 8-K with the U.S. Securities and Exchange Commission.

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3/13/2023	$30.00	Buy → Neutral	Compass Point
2/28/2023		Mkt Perform → Underperform	Raymond James
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Jessica Snyder to serve as Argo Group CEO Argo Group International Holdings, Ltd. ("Argo") today announced the completion of Brookfield Reinsurance's acquisition of Argo in an all-cash transaction valued at approximately $1.1 billion. Under the terms of the transaction, Brookfield Reinsurance acquired all issued and outstanding common shares of Argo at a price of $30 per share. Argo's common shares have ceased trading on the New York Stock Exchange. Argo's leading U.S. specialty platform adds a foundational piece to Brookfield Reinsurance's expanding U.S. P&C operations and increases Brookfield Reinsurance's assets to over $50 billion. In connection with closing, Jessica Snyder will
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Focused On Optimizing Business For Profitable Growth Pending merger with Brookfield Reinsurance: The parties have received a majority of the required regulatory approvals. The merger agreement outside date for completing the transaction has been automatically extended from today to February 8, 2024, pursuant to the terms of the merger agreement, as all conditions to closing are satisfied other than receipt of the remaining required regulatory approvals. Both companies remain committed to closing the transaction as expeditiously as possible, and expect the transaction to close in 2023, subject to receipt of the remaining required regulatory approvals. Argo Group International Holdings,
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Industry veterans Rod Williams and Paul Drakontaidis also join the company Argo Group International Holdings, Ltd. (NYSE:ARGO) ("Argo" or the "company") today announced Greg Chilson as president of Argo Surety, effective September 1. Chilson has served as a strategic advisor to the business since May. "Greg joins the company with a tremendous amount of industry experience as we look to build on Argo Surety's track record as a very profitable, growth-oriented business," said Argo's President of U.S. Insurance, Jessica Snyder. "Over the past few months, Greg has assisted us as we worked to implement our strategy to evolve the business, including the evaluation of Argo's in-force portfolio
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Capital Returns' Claims Do Not Reflect the Reality of Argo's Actions Urges Shareholders to Continue to Support Argo's Positive Momentum by Voting "FOR" All Argo's Highly Qualified Director Nominees on the BLUE Proxy Card Today Argo Group International Holdings, Ltd. (NYSE:ARGO) ("Argo" or "the Company") today announced that it is mailing a letter to shareholders in connection with its 2022 Annual Meeting of Shareholders urging all Argo shareholders to vote the BLUE proxy card "FOR" ALL seven of Argo's highly qualified director nominees. The Annual Meeting will be held on December 15, 2022, and shareholders of record as of October 26, 2022 are entitled to vote at the meeting. The full tex
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Strategic Repositioning that Began in Late 2019 Has Created Stronger Growth Platform and Optimized Business Mix Refreshed Board, Which Includes Company's Largest Shareholder, Has Right Skills and Experience to Oversee Ongoing Strategic Review Process Appointing Either of Capital Returns' Nominees Would Result in Loss of Superior Talent and Experience at Critical Juncture for Company Urges Stockholders to Vote the BLUE Proxy Card "FOR" ALL Seven of Argo's Highly Qualified Nominees Argo Group International Holdings, Ltd. (NYSE:ARGO) ("Argo" or "the Company"), an underwriter of specialty insurance products, today announced that it has filed an investor presentation with th
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Argo Group Reports Third Quarter 2023 Results
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Argo Group Reports Second Quarter 2023 Results
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Argo Group Shareholders Approve Proposed Merger With Brookfield Reinsurance In An All-Cash Transaction Valued At ~$1.1B

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