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Core Specialty Announces Purchase of Professional Lines Business Renewal Rights and Related Unearned Premium Reserve from Argo Group International Holdings, Inc.

Jan 06, 2025•over 1 year ago

Contract Type

contract

CincinnatiInsurance

Description

Core Specialty Insurance Holdings, Inc. has entered into a series of transactions with certain subsidiaries of Argo Group International Holdings, Inc. for the purchase of renewal rights and related unearned premium reserve for a substantial portion of Argo’s professional lines businesses. The acquisition includes entering into an Unearned Premium Quota Share Reinsurance Agreement and a Business Transfer Agreement.

Company Information

Company

Core Specialty Insurance Holdings, Inc.

Location

Cincinnati, Ohio, United States

About

Core Specialty offers a diversified range of property and casualty insurance products for small to midsized businesses. From its underwriting offices spanning the U.S., the Company focuses on niche markets, local distribution, and superior underwriting knowledge; offering traditional as well as innovative insurance solutions to meet the needs of its customers and brokers. Core Specialty is an insurance holding company operating through StarStone Specialty Insurance Company, a U.S. excess & surplus lines insurer, and StarStone National Insurance Company, Lancer Insurance Company, and Lancer Insurance Company of New Jersey, each of which is a U.S. admitted markets insurer. All Core Specialty Insurance entities are AM Best rated A- (Excellent); the Starstone companies are Financial Size Category XII and the Lancer entities are Financial Size Category VIII. For further information about Core Specialty, please visit www.corespecialty.com.

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