Argo Group International Holdings, Ltd. (NYSE:ARGO) Q3 2019 Earnings Conference Call - Final Transcript

Nov 08, 2019 • 11:00 am ET


Argo Group International Holdings, Ltd. (NYSE:ARGO) Q3 2019 Earnings Conference Call - Final Transcript


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Good day, and welcome to the Argo Group 2019 Third Quarter Earnings call. [Operator Instructions].

At this time, I'd like to turn the conference call over to Mr. Brett Shirreffs, Investor Relations. Please go ahead.

Brett Shirreffs

Thank you, and welcome to Argo Group's conference call for the third quarter of 2019. After the market closed last night, we issued a press release on our earnings, which is available in the Investors section of our website at

Presenting on today's call is Kevin Rehnberg, Interim Chief Executive Officer; and Jay Bullock, Chief Financial Officer. As the operator mentioned, this call is being recorded.

As a result of this conference call, Argo management may make comments that reflect their intentions, beliefs and expectations for the future. Such forward-looking statements are qualified by the inherent risks and uncertainties surrounding future expectations generally and may materially differ from actual future results involving any one or more of such statements.

Argo Group undertakes no obligation to publicly update forward looking statements as a result of events or developments subsequent to this call.

For a more detailed discussion of such risks and uncertainties, please see Argo Group's filings with the SEC.

Before we get started, I'd like to formally welcome Kevin Rehnberg to the call. As reported, Mark Watson, our former CEO and President, announced his retirement earlier this week. Kevin joined Argo in 2013 to lead our U.S. operations, and has led the turnaround performance of that business. At the beginning of 2019, Kevin was appointed both CEO of the Americas and Chief Administrative Officer for the Group. Kevin has previously joined us on earnings calls and represented Argo at industry forums. So he's a familiar face to most of you. I will now turn the call over to Kevin.

Kevin J. Rehnberg

Good morning, and thank you for the introduction, Brett. I'd like to welcome everyone to today's call, and thank you for your continued interest in Argo's operations. It is a privilege to have the opportunity to serve as the interim CEO of Argo Group. I would also like to personally thank Mark Watson for his 20 years of service for the company. His vision set the course for this Company, and I'm honored to lead it from here. As noted, I joined Argo almost seven years ago. During that time, I've had the opportunity to work with many of our employees across the company, and I'm proud of the results we have been able to achieve together. At our largest division, we have demonstrated the ability to grow profitable businesses and significantly improve service to brokers, customers with using disciplined underwriting, effective capital management, innovation and entrepreneurial spirit, which are a part of the DNA of this entire company. I'm eager to put these operating principles to work throughout our enterprise to build value for shareholders.

Now, with the opportunity to look at Argo more broadly, I see Argo as a strong specialty company, with the appropriate tools to leverage across our global platforms. However, our