Argo renews sidecar Harambee Re for 2019

Specialty re/insurance underwriter Argo Group International Holdings has renewed Harambee Re as its sidecar reinsurer for 2019.

Launched in 2013, the sidecar builds relationships with third-party capital providers to support the company’s insurance and reinsurance portfolios.

Harambee Re provides Argo with additional catastrophe capacity for specific property portfolios underwritten by Ariel Re, which has operated as Argo’s reinsurance platform since its acquisition in the first quarter of 2017.

“We’re excited to have completed this, the sixth renewal for Harambee Re, which reflects the strong and enduring relationships we have built with our third-party capital partners,” said Argo Group CEO Mark Watson III. “Harambee Re continues to enable us to materially increase underwriting capacity and provide a more valuable product offering, which ultimately benefits our clients and intermediary partners.”

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