Argo Group US Inc. is a national provider of specialty property/casualty insurance. Its Bermuda-based parent acquired a U.K. insurer in 2008, potentially exposing it to greater earnings volatility. We are revising our outlook on Argo Group US Inc. and its insurance subsidiaries to stable from negative because we believe the company has adequately addressed our concerns regarding the acquisition. We are affirming our ratings on Argo Group US and its subsidiaries. On May 13, 2009, Standard&Poor's Ratings Services revised its outlook on Argo Group US Inc. (AGUS), a wholly owned subsidiary of Bermuda-based Argo Group International Holdings Ltd. (NASDAQ:AGII), and AGUS's insurance company affiliates (collectively referred to as Argo) to stable from negative. At the same time, we
