Westfield Specialty Acquires Renewal Rights to Argo Group’s U.S. Property, Shared and Layered Business and Opens Doors of E&S Property Business

WESTFIELD CENTER, Ohio--(BUSINESS WIRE)--
Westfield Specialty, a subsidiary of Westfield Insurance, today announced an agreement to acquire the renewal rights of Argo Group’s US Property, Shared and Layered property business.

“This renewal rights transaction is a significant step in our E&S property launch and commitment to the wholesale property marketplace,” said Jack Kuhn, president of Westfield Specialty. “We are excited for the opportunity to onboard additional underwriting talent and expertise while gaining a meaningful footprint into shared and layered property.”

Andy Hendrix, EVP of E&S Property at Westfield Specialty commented, “The acquisition of the Argo portfolio aligns with our strategic approach of short line deployments within target occupancy classes. The mix of primary versus excess business is indicative of a stable portfolio that limits volatility. We are excited to open our doors to our broker partners and provide fresh capacity into the market through the trusted, talented underwriters we have added over the past few weeks,” Hendrix added.

Westfield Specialty will acquire renewal rights on all business effective January 1, 2022.

As a part of the transaction, Argo Group will continue to honor and service all policies currently in force.

The terms of this transaction were not disclosed.

For more information about Westfield Specialty solutions, visit westfieldinsurance.com.

About Westfield

Westfield was founded in 1848 by a small group of hard-working farmers who believed in the promise of the future and the power of the individual. Today, as one of the nation’s leading property and casualty (P&C) companies, we remain true to their vision and are dedicated to making a positive difference in our customers’ lives. Learn more about Westfield at www.westfieldinsurance.com.

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Hadie Bartholomew, [email protected]

Source: Westfield