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Argo Group forms new casualty and professional risks division

The casualty and professional risks business will be headed by Nigel Mortimer

Argo Group International, an underwriter of specialty insurance and reinsurance products, has established a casualty and professional risks division within Argo Re, the company’s Bermuda-based reinsurance operation.

The company said that the newly formed division will write general and product liability, product recall, excess directors’ and officers’ liability, A-side primary, lead difference in conditions and follow form, excess errors and omissions liability, primary and excess employment practices liability and excess crime and fidelity risks, with capacity limits of up to $25 million.

The casualty and professional risks business will be headed by Nigel Mortimer who has been appointed chief underwriting officer for casualty and professional risks at Argo Re. Reporting to Argo Re president Andrew Carrier, Mr. Mortimer will lead a team of underwriters that includes Mark Peeters, Glenn Burles, Timothy Hadler and Deirdre Lohan.

Mr Carrier said: We see tremendous opportunity in this part of the market. Argo Re’s unique specialist approach means that, with the right underwriting management in place combined with Argo Group’s strong balance sheet, we should be successful at generating profitable risk-adjusted returns.

Argo Group has also announced that the president of its U.S. operations, Dale Pilkington, will be leaving the company as of May 1, 2009. CEO Mark Watson III and CFO Jay Bullock will jointly assume Mr. Pilkington’s responsibilities until a successor is named. Mr. Pilkington will assist during the transition period with the selection process.