Argo sells a unit in strategy to simplify business

Specialty re/insurer  Argo Group International Holdings has agreed to sell the renewal rights of its contract binding property and casualty business to Mesa Underwriters Specialty Insurance Company (MUSIC), the excess and surplus lines subsidiary of Selective Insurance Group (SIGI).

As a part of the transaction, the Argo contract binding team will have the option to join MUSIC and continue to serve this market. Argo Group will continue to honor and service all policies currently in force.

“This transaction supports the company’s strategy to simplify the business,” said Marsh Duncan (pictured), Argo Group, president of excess and surplus. “We are pleased to have reached an agreement that provides a smooth transition for our brokers and insureds.”

Jeff Kamrowski, executive vice president of MUSIC, added: “Expanding our contract binding book of business is a natural evolution of our growth strategy, further ensuring MUSIC’s continued success. We are dedicated to our specialty insurance customers and are excited for the opportunity to offer our customised insurance solutions, stellar customer service, and superior claims handling to new contract binding accounts at renewal. This opportunity and trust that Argo places in MUSIC underscores our strong reputation and solid performance in the marketplace.”

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