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Argo Group International Holdings, Ltd. (ARGO) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2019

Argo Group International Holdings, Ltd.

CIK: 1091748 Ticker: ARGO
Exhibit 99.1



Argo Group Reports 2019 Fourth Quarter and Full-Year Results

HAMILTON, Bermuda (February 24, 2020)
- Argo Group International Holdings, Ltd. (NYSE: ARGO) (“Argo” or the “Company”) today announced financial results for the three months and year ended December 31, 2019. On February 12, the company issued preliminary comments on its financial results. In addition, on February 18, the company announced certain governance and management changes, including the appointment of Kevin Rehnberg as permanent CEO.

“We believe our organization has great potential, but our results for 2019 are not indicative of our future direction,” said Rehnberg. “Immediately upon my appointment as Interim CEO in November, we started a review process of all of Argo’s operations. That review process is ongoing. The company has a strong foundation of specialty insurance and reinsurance businesses, focused largely on the most attractive specialty market – U.S. domiciled risks. The core of this foundation is not going to change, but it can certainly be enhanced. Some of our businesses are performing very well today, while others are not meeting return expectations. We are acting swiftly to address areas where the available return prospects are not achievable in the near term and do not fit our focused strategic direction.

“Going forward, we are insisting upon a culture of results and accountability, as well as a set of operating principles that will help us to be a more focused and efficient organization,” added Rehnberg. “We are eliminating unnecessary spending and will deploy capital more strategically going forward. We believe Argo has an excellent specialty platform and world-class talent. We intend to work together to aggressively pursue our financial targets and deliver an improving return on equity over the near and long term. We look forward to sharing more about this strategy on our earnings call tomorrow and throughout the rest of the year.”

“The Board is fully supportive of Kevin’s vision for the Company and impressed by all that has been achieved over the past few months, and we welcome him as Argo’s permanent CEO,” said Thomas Bradley, Chairman-elect of the Argo Board of Directors. “He and the team have a strong track record of operational excellence and noteworthy results in the U.S. We are confident in Kevin’s ability to execute those strategies companywide. We believe the Argo management team has been strengthened by recent hires, and we are confident in their ability to deliver on the Company’s commitments to customers, employees and shareholders.”
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The following information was filed by Argo Group International Holdings, Ltd. (ARGO) on Monday, February 24, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Argo Group International Holdings, Ltd.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:

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Inside Argo Group International Holdings, Ltd.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Cover
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of (Loss) Income
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Shareholders' Equity
Consolidated Statements Of Shareholders' Equity (Parenthetical)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) (Tables)
Accumulated Other Comprehensive Income (Loss) - Amounts Reclassified From Accumulated Other Comprehensive Income (Loss) (Detail)
Accumulated Other Comprehensive Income (Loss) - Changes In Accumulated Other Comprehensive Income (Loss) (Detail)
Business And Significant Accounting Policies
Business And Significant Accounting Policies (Policies)
Business And Significant Accounting Policies (Tables)
Business And Significant Accounting Policies - Additional Information (Detail)
Business And Significant Accounting Policies - Intangible Assets And Accumulated Amortization (Detail)
Business And Significant Accounting Policies - Schedule Of Interest Paid (Detail)
Business And Significant Accounting Policies - Summary Of Receivables (Detail)
Commitments And Contingencies
Commitments And Contingencies - Additional Information (Detail)
Disclosures About Fair Value Of Financial Instruments
Disclosures About Fair Value Of Financial Instruments (Detail)
Disclosures About Fair Value Of Financial Instruments (Tables)
Disclosures About Fair Value Of Financial Instruments - Summary Of Fair Values Measured On Recurring Basis (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Detail)
Income Taxes - Income Tax (Benefit) Provision Expense (Detail)
Income Taxes - Reconciliation Of Difference Between Provision For Income Taxes And Expected Tax Provision At Weighted Average Tax Rate (Detail)
Income Taxes - Schedule Of Net Deferred Tax Liability Comprises Tax Effect Related To Assets And Liabilities (Detail)
Income Taxes - Schedule Of Net Operating Loss Carryforwards Amounts By Jurisdiction And Year Of Expiration (Detail)
Income Taxes - Schedule Of Pre-Tax Income (Loss) And Effective Income Tax Rates (Detail)
Insurance Assessments
Insurance Assessments (Detail)
Investments
Investments (Tables)
Investments - Additional Information (Detail)
Investments - Components Of Restricted Assets (Detail)
Investments - Financial Assets Measured At Fair Value On Recurring Basis (Detail)
Investments - Schedule Of Aging Of Unrealized Losses On Company's Investments In Fixed Maturities, Equity Securities And Other Investments (Detail)
Investments - Schedule Of Amortized Cost And Fair Values Of Fixed Maturity Investments, By Contractual Maturity (Detail)
Investments - Schedule Of Amortized Cost, Gross Unrealized Gains, Gross Unrealized Losses And Fair Value Of Investments (Detail)
Investments - Schedule Of Carrying Value And Unfunded Investment Commitments Of Other Invested Assets Portfolio (Detail)
Investments - Schedule Of Changes In Unrealized Appreciation (Depreciation) (Detail)
Investments - Schedule Of Company's Gross Realized Investment Gains (Losses) (Detail)
Investments - Schedule Of Fair Value Of Foreign Currency Exchange Forward Contracts (Detail)
Investments - Schedule Of Investment Income And Expenses (Detail)
Investments - Schedule Of Realized Gains And Losses Of Investment On Foreign Currency Exchange Forward Contracts (Detail)
Investments - Schedule Of Recognized Other-Than-Temporary Losses On Fixed Maturities And Equity Portfolios (Detail)
Investments - Schedule Of Reconciliation Of Beginning And Ending Balances For Investments Categorized As Level 3 (Detail)
Junior Subordinated Debentures
Junior Subordinated Debentures (Tables)
Junior Subordinated Debentures - Additional Information (Detail)
Junior Subordinated Debentures - Schedule Of Junior Subordinated Debentures (Detail)
Junior Subordinated Debentures - Schedule Of Maybrooke Junior Subordinated Debentures (Detail)
Leases
Leases (Tables)
Leases - Additional Information (Details)
Leases - Components Of Leases (Details)
Leases - Lease Cost (Details)
Leases - Lease Maturity (Details)
Net (Loss) Income Per Common Share
Net (Loss) Income Per Common Share (Tables)
Net (Loss) Income Per Common Share - Additional Information (Detail)
Net (Loss) Income Per Common Share - Net (Loss) Income Per Common Share On Basic And Diluted Basis (Detail)
Other Indebtedness
Other Indebtedness (Tables)
Other Indebtedness - Additional Information (Detail)
Other Indebtedness - Schedule Of Floating Rate Loan Stock, Notes Outstanding (Detail)
Other Indebtedness - Schedule Of Terms And Principal Amounts Of Each Debt Instrument (Detail)
Other Indebtedness - Summary Of Terms Of Outstanding Debt (Details)
Pension Benefits And Savings Plans
Pension Benefits And Savings Plans (Detail)
Reinsurance
Reinsurance (Tables)
Reinsurance - Additional Information (Detail)
Reinsurance - Schedule Of Reinsurance Premium (Detail)
Reserves For Losses And Loss Adjustment Expenses
Reserves For Losses And Loss Adjustment Expenses (Tables)
Reserves For Losses And Loss Adjustment Expenses - Additional Information (Detail)
Reserves For Losses And Loss Adjustment Expenses - Impact From (Favorable) Unfavorable Development Of Prior Accident Years' Loss And Lae Reserves On Each Reporting Segment (Detail)
Reserves For Losses And Loss Adjustment Expenses - Reserves For Losses And Loss Adjustment Expenses (Detail)
Reserves For Losses And Loss Adjustment Expenses - Schedule Of Information About Discounted Liabilities For Unpaid Losses And Lae (Detail)
Reserves For Losses And Loss Adjustment Expenses - Schedule Of Supplementary Unaudited Information About Annual Percentage Payout Of Incurred Losses And Alae, Net Of Reinsurance (Detail)
Reserves For Losses And Loss Adjustment Expenses - Summary Of Information About Incurred And Cumulative Paid Losses And Allocated Loss Adjustment Expenses, Net Of Reinsurance (Detail)
Reserves For Losses And Loss Adjustment Expenses - Summary Of Reconciliation Of Net Incurred And Paid Development To Liability For Unpaid Losses And Lae In Consolidated Balance Sheets (Detail)
Run-Off Lines
Run-Off Lines (Tables)
Run-Off Lines - Gross Reserves For Run-Off Lines (Detail)
Run-Off Lines - Total Gross Reserves For Asbestos Exposure (Detail)
Run-Off Lines - Underwriting Losses For Run-Off Lines (Detail)
Schedule Ii Condensed Financial Information Of Registrant
Schedule Ii Condensed Financial Information Of Registrant - Schedule Of Balance Sheets (Detail)
Schedule Ii Condensed Financial Information Of Registrant - Schedule Of Statements Of Cash Flows (Detail)
Schedule Ii Condensed Financial Information Of Registrant - Schedule Of Statements Of Income (Detail)
Schedule Iii Supplemental Insurance Information
Schedule Iii Supplemental Insurance Information (Detail)
Schedule V Valuation And Qualifying Accounts
Schedule V Valuation And Qualifying Accounts (Detail)
Schedule Vi Supplemental Information For Property-Casualty Insurance Companies
Schedule Vi Supplemental Information For Property-Casualty Insurance Companies (Detail)
Segment Information
Segment Information (Tables)
Segment Information - Additional Information (Detail)
Segment Information - Identifiable Assets (Detail)
Segment Information - Revenue And Income (Loss) Before Income Taxes For Each Segment (Detail)
Segment Information - Schedule Of Earned Premiums By Geographic Location (Detail)
Segment Information - Schedule Of Goodwill And Intangible Assets Net Of Accumulated Amortization (Detail)
Senior Unsecured Fixed Rate Notes
Senior Unsecured Fixed Rate Notes (Tables)
Senior Unsecured Fixed Rate Notes - Additional Information (Detail)
Senior Unsecured Fixed Rate Notes - Condensed Consolidating Balance Sheet (Detail)
Senior Unsecured Fixed Rate Notes - Condensed Consolidating Statement Of Cash Flows (Detail)
Senior Unsecured Fixed Rate Notes - Condensed Consolidating Statement Of Income (Detail)
Senior Unsecured Fixed Rate Notes - Schedule Of Unamortized Debt Issuance Costs Deducted From Carrying Value Of Debt Liability (Detail)
Share-Based Compensation
Share-Based Compensation (Tables)
Share-Based Compensation - Additional Information (Detail)
Share-Based Compensation - Fair Value Assumptions (Detail)
Share-Based Compensation - Summary Of Cash-Settled Sars Activity (Detail)
Share-Based Compensation - Summary Of Restricted Share Activity (Detail)
Share-Based Compensation - Summary Of Stock-Settled Sars Activity (Detail)
Shareholders' Equity
Shareholders' Equity - Additional Information (Detail)
Statutory Accounting Principles
Statutory Accounting Principles (Tables)
Statutory Accounting Principles - Additional Information (Detail)
Statutory Accounting Principles - Statutory Capital And Surplus For Principal Operating Subsidiaries (Detail)
Statutory Accounting Principles - Statutory Net Income (Loss) For Principal Operating Subsidiaries (Detail)
Subsequent Event
Subsequent Event (Detail)
Transactions With Related Parties
Transactions With Related Parties Transactions With Related Parties (Detail)
Unaudited Quarterly Financial Data
Unaudited Quarterly Financial Data (Detail)
Unaudited Quarterly Financial Data (Tables)
Underwriting, Acquisition And Insurance Expenses &Amp; Other Corporate Expenses
Underwriting, Acquisition And Insurance Expenses &Amp; Other Corporate Expenses (Detail)
Underwriting, Acquisition And Insurance Expenses &Amp; Other Corporate Expenses (Tables)
Ticker: ARGO
CIK: 1091748
Form Type: 10-K Annual Report
Accession Number: 0001628280-20-002567
Submitted to the SEC: Fri Feb 28 2020 4:10:28 PM EST
Accepted by the SEC: Fri Feb 28 2020
Period: Tuesday, December 31, 2019
Industry: Title Insurance

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