Argo CUO Schmidt steps down; replacement revealed

Bermuda-based  Argo Group International Holdings' chief underwriting officer (CUO) Axel Schmidt has stepped down from his role.

Tim Carter has been appointed as the company’s new CUO. He was previously the executive vice president, Americas of Argo Group US.

Schmidt will continue at the company in an advisory capacity to the CEO until December 31, 2020.

Schmidt joined Argo in 2014 as group chief underwriting officer following Andrew Carrier’s resignation. Prior to that, he was CUO of Aviva's UK/Ireland business across personal, commercial and corporate/specialty lines. He was also responsible for Aviva’s group-wide underwriting, pricing, products and claims strategy.

Previously, Schmidt spent 20 years at Zurich where he held a number of senior underwriting and management positions including deputy chief executive officer/CUO of Zurich’s corporate business in Europe/UK and underwriting director for Zurich’s global corporate business.