Ariel Re buy ill-timed for Argo: CEO Watson

The timing of Argo's acquisition of Ariel Re in last
year's first quarter was "unfortunate" because it
meant net retentions for multiple reinsurance programs caused an
additional impact on the bottom line, said the US specialty
carrier's CEO, Mark Watson, in the annual report it released
today.
"Going forward, we expect our net exposure to similar
events to be close to 5 combined ratio points," Watson said in
his message to shareholders.
Argo saw its combined ratio deteriorate to 107.2...