HAMILTON, Bermuda--(BUSINESS WIRE)--Argo Group International Holdings, Ltd. (NasdaqGS: AGII), an international underwriter of specialty insurance and reinsurance products, announced today that Bruno Ritchie has joined the company to lead Argo Assurances, Argo Group’s new Paris-based underwriting platform for large specialty risks. Argo Assurances will initially focus on insurance solutions for space and aviation clients worldwide.
“We continue to expand our international footprint and underwriting business in specialties such as space and aviation,” said Argo Group Chief Underwriting Officer Andrew Carrier. “We’re very pleased to have Bruno join us to lead our growth in Europe from our new underwriting platform in Paris.”
Mr. Ritchie brings more than 16 years of experience in the fields of aerospace underwriting, business development and large risk underwriting strategy. As managing director of Argo Assurances, Mr. Ritchie will be charged with the creation of an underwriting platform based in Paris that will develop a portfolio of specialty risks for clients based in Continental Europe and throughout the world for certain specialty classes of business. The initial focus will be on insurance solutions for space and aviation clients, for which Mr. Ritchie will have group-wide responsibility.
Argo Group added aviation to its international portfolio in October 2010 with the hiring of Richard Bayman as class underwriter in its Lloyd’s operation. Mr. Ritchie’s addition is further evidence of Argo Group’s commitment to this specialist sector as aviation underwriting will now occur in both London and Paris. “We see significant advantage in having access to both the London and Paris markets as market cycle-related opportunities present themselves in the future,” said Mr. Carrier.
Most recently, Mr. Ritchie was the underwriting director of Hiscox’s Global Risks European office in Paris. Prior to this position, Mr. Ritchie was a divisional underwriter with Hiscox Lloyd’s Syndicate 33 in London, managing a portfolio of aerospace risks and professional indemnity risks for technology, media and telecom clients. Before that, he was head of aerospace underwriting with AGF, a unit of Allianz group, also in Paris.
Mr. Ritchie has an MBA from HEC (école des Hautes Etudes Commerciales) school of management in Paris, a mechanical engineering degree from UTC (Universite de Technologie de Compiegne) and is a graduate of the CHEA (Centre des Hautes Etudes d’Assurances) in Paris.
Mr. Ritchie can be reached in Paris at +331 5652 9479 or at Bruno.ritchie@argo-int.com.
ABOUT ARGO GROUP INTERNATIONAL HOLDINGS, LTD.
Argo Group International Holdings, Ltd. (NasdaqGS: AGII) is an international underwriter of specialty insurance and reinsurance products in the property and casualty market. Argo Group offers a full line of high-quality products and services designed to meet the unique coverage and claims handling needs of businesses in four primary segments: Excess & Surplus Lines, Commercial Specialty, Reinsurance, and International Specialty. Argo’s insurance subsidiaries are A. M. Best-rated 'A' (Excellent) (third highest rating out of 16 rating classifications) with a stable outlook, and Argo’s U.S. insurance subsidiaries are Standard and Poor’s-rated 'A-' (Strong) with a stable outlook. More information on Argo Group and its subsidiaries is available at www.argolimited.com.
FORWARD-LOOKING STATEMENTS
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.