Argo closes sale of Brazilian business amid push for US

Bermuda-based specialty re/insurance  Argo Group International Holdings has completed the planned sale of its Brazilian business as it continues to shift focus to the US specialty market.

Argo Seguros Brasil S.A. has been acquired by Spice Private Equity for an undisclosed sum.

Andy Borst (pictured), interim president of international operations at Argo, said: “The closing of this transaction is another definitive step as Argo evolves as a specialty insurer focused on US-based insurance risks. I wish the team in Brazil the best of luck in the future.”

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