Research Update: Argo Group US Inc. And Subsidiaries Outlook Revised To Negative From Stable Due To Governance-Related Risks - S&P Global Ratings’ Credit Research

Research Update: Argo Group US Inc. And Subsidiaries Outlook Revised To Negative From Stable Due To Governance-Related Risks

Research Update: Argo Group US Inc. And Subsidiaries Outlook Revised To Negative From Stable Due To Governance-Related Risks - S&P Global Ratings’ Credit Research
Research Update: Argo Group US Inc. And Subsidiaries Outlook Revised To Negative From Stable Due To Governance-Related Risks
Published Nov 12, 2019
5 pages (2200 words) — Published Nov 12, 2019
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Argo Group International Holdings Ltd. (Argo), parent of Argo Group U.S. Inc. (Argo U.S.), recently announced the immediate retirement of its CEO, Mark Watson. This announcement follows the company's disclosure from a few weeks ago of the board's review of governance and compensation-related matters subsequent to an SEC subpoena. In our view, these developments suggest potential shortcomings in Argo's governance framework, including the effectiveness of board oversight. Moreover, the potential impact on the company from SEC investigation remains to be seen. Therefore, we are revising our outlook on Argo U.S. and its core operating subsidiaries to negative from stable, and affirming our ratings on the group. On Nov. 12, 2019, S&P Global Ratings revised its outlook to negative from stable,

  
Brief Excerpt:

...- Argo Group International Holdings Ltd. (Argo), parent of Argo Group U.S. Inc. (Argo U.S.), recently announced the immediate retirement of its CEO, Mark Watson. This announcement follows the company's disclosure from a few weeks ago of the board's review of governance and compensation-related matters subsequent to an SEC subpoena. - In our view, these developments suggest potential shortcomings in Argo's governance framework, including the effectiveness of board oversight. - Moreover, the potential impact on the company from SEC investigation remains to be seen. - Therefore, we are revising our outlook on Argo U.S. and its core operating subsidiaries to negative from stable, and affirming our ratings on the group....

  
Report Type:

Research Update

Ticker
AGII@US
Issuer
Argo Group US Inc.
GICS
Property & Casualty Insurance (40301040)
Sector
Global Issuers, Public Finance
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Argo Group US Inc. And Subsidiaries Outlook Revised To Negative From Stable Due To Governance-Related Risks" Nov 12, 2019. Alacra Store. May 04, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Argo-Group-US-Inc-And-Subsidiaries-Outlook-Revised-To-Negative-From-Stable-Due-To-Governance-Related-Risks-2337747>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Argo Group US Inc. And Subsidiaries Outlook Revised To Negative From Stable Due To Governance-Related Risks Nov 12, 2019. New York, NY: Alacra Store. Retrieved May 04, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Argo-Group-US-Inc-And-Subsidiaries-Outlook-Revised-To-Negative-From-Stable-Due-To-Governance-Related-Risks-2337747>
  
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