Argo to take fourth-quarter hit from catastrophe losses
Argo Group International Holdings Ltd expects to book about $38 million in natural catastrophe losses in its fourth-quarter earnings.
The Bermudian-based insurer expects to take an additional $13 million hit from net losses in relation to the Covid-19 pandemic.
Hurricanes Delta and Zeta were the main drivers of the natural catastrophe losses, Argo said, as well as changes in estimated losses from third-quarter events.
The company is scheduled to release its 2020 fourth quarter financial results after the close of US financial markets on February 17.