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Argo Group International Holdings, Ltd.


The law firm of Kirby McInerney LLP is investigating potential claims against Argo Group International Holdings, Ltd. (“Argo” or the “Company”) (NASDAQ: ARGO). The investigation concerns whether Argo has violated the federal securities laws and/or engaged in other unlawful business practices.
 
Argo is a Bermuda-based international underwriter of specialty insurance products in the property and casualty market.
 
On February 8, 2022, Argo issued a press release disclosing that its results for the fourth quarter of 2021 would be “negatively affected by adverse prior year reserve development and non-operating charges.” Specifically, Argo expects “net adverse prior year reserve development to be in the range of $130 million to $140 million.” The Company explained that the largest reserve increases were due to construction defect claims within Argo’s U.S. Operations and reserve increases in the run-off segment. On this news, the price of Argo stock declined by $7.01 per share, or approximately 13.7%, from $51.11 per share to close at $44.10 on February 9, 2022.
 

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