Applied Surety Underwriters, subsidiary of Applied Underwriters' United Risk Division, Acquires Major Portion of Argo Group's In-Force Oil, Gas, Mining, and Coal Surety Businesses
Terms of the transaction were not disclosed.
Initially, Argo will front the business under a 100 percent quota agreement with Applied Surety Underwriters, according to
About Applied Surety Underwriters (www.surety.auw.com)
Applied Surety Underwriters is an independent affiliate of Applied Underwriters®, with an approach to surety bonds that emphasizes a thorough understanding of the engineering and other technical aspects of a project. Insurance carriers utilized by Applied Surety Underwriters are rated 'A-' (Excellent) by AM Best, Financial Size Category XI.
About United Risk Global (www.unitedrisk.global)
United Risk Global is an international property and casualty insurance underwriting and distribution platform independently owned and operated by its practice partners and affiliated with Applied Underwriters operationally and through its common and powerful brand identity. United Risk's home office is located at
About Applied Underwriters (www.auw.com)
Applied Underwriters® is a global risk services firm that helps businesses and people manage uncertainty through its business services, insurance and reinsurance solutions. As a company, Applied Underwriters has been distinguished by its innovative approaches to client care and by its strong financial strength. Applied Underwriters operates widely throughout the US,
About Argo Group International Holdings, Ltd. (www.argogroup.com)
Argo Group International Holdings, Ltd. is an underwriter of specialty insurance products in the property and casualty market. Argo offers a full line of products and services designed to meet the unique coverage and claims-handling needs of businesses. The company is a wholly owned subsidiary of Brookfield Reinsurance Ltd. Argo and its insurance subsidiaries are rated ‛A-' by Standard and Poor's. Argo's insurance subsidiaries are rated ‛A-' by AM Best.
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SOURCE Applied Underwriters
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