AM Best downgrades Argo over transparency concerns and SEC probe

Rating agency AM Best has downgraded the financial strength rating (FSR) of Argo and its subsidiaries to A- from A because of concerns over the recent Securities and Exchange Commission (SEC) probe, a lack of transparency and unfavourable prior year loss reserve development.

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AM Best, Argo, SEC Probe, Insurance, Reinsurance, Financial strength rating, Thomas Bradley, Kevin Rehnberg, North America

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