Argo Group International Holdings, Inc. reported a net income attributable to common stockholders of $56.1 million for the second quarter of 2025, a significant increase from $10.0 million in the same period of 2024. For the first half of 2025, net income rose to $83.7 million compared to $33.0 million in the prior year. Total revenue for the second quarter was $336.5 million, down from $380.7 million year-over-year, while revenue for the first half decreased to $615.3 million from $759.4 million. The decline in revenue was primarily attributed to a decrease in net earned premiums, which fell to $229.7 million for the second quarter and $439.7 million for the first half, compared to $289.9 million and $603.6 million, respectively, in 2024.
The company experienced a notable shift in its operational structure following its merger with Brookfield Wealth Solutions Ltd. in November 2023, which led to a reorganization of its reporting segments. As a result, Argo Group now operates under three reportable segments: Casualty Lines, Specialty Lines, and Run-off Lines. This strategic realignment aims to enhance operational efficiency and focus on growth areas. The company also reported a $4.5 million impairment of intangible assets due to the merger-related restructuring.
In terms of operational metrics, Argo Group's reserves for losses and loss adjustment expenses decreased to $5.6 billion as of June 30, 2025, down from $5.8 billion at the end of 2024. The company reported a loss ratio of 68.0% for the second quarter of 2025, an improvement from 78.2% in the same quarter of 2024. The favorable development in loss reserves was primarily driven by the Specialty Lines segment, which reported a $19.8 million favorable development, offsetting unfavorable developments in Casualty and Run-off Lines.
Looking ahead, Argo Group's management expressed optimism about future performance, citing a strategic focus on enhancing underwriting profitability and optimizing its investment portfolio. The company continues to evaluate its operational strategies in light of market conditions and aims to leverage its recent structural changes to drive growth. The outlook remains cautious, with management acknowledging potential risks related to market volatility and regulatory changes that could impact financial performance.
About Argo Group International Holdings, Inc.
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