Argo Group accelerates growth in Q3

Bermuda-based Argo Group boosted premium growth in the third quarter while combined ratio remained stable.

The re/insurer reported a gross written premium increase of 10.2 percent to $585.4 million in the third quarter of 2016 compared to the same period a year ago.

This is an acceleration of the 6.4 percent growth recorded for the first nine months of the year to $1.67 billion.

The combined ratio remained stable in the third quarter at 96.2 percent compared to the same period of 2015.

In the first nine months of 2016 the combined ratio was slightly lower at 95.2 percent.

Net income of the group was $55.2 million in the third quarter, up from $35.3 million in the same period of 2015.