Hamilton, Bermuda – Nov. 2, 2020 – Argo Group International Holdings, Ltd. (NYSE: ARGO), an underwriter of specialty insurance and reinsurance products, today announced an agreement to sell its reinsurance business, Ariel Re, to Pelican Ventures and J.C. Flowers & Co., both private equity investors with significant insurance expertise. Closing of the transaction is subject to regulatory approval and is expected to occur in 2020.
“Ariel Re is well known in the reinsurance market, and we are confident the business will thrive as part of Pelican Ventures,” said Chief Executive Officer Kevin J. Rehnberg.
