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Westfield Specialty Acquires Renewal Rights to Argo Group’s U.S. Property, Shared and Layered Business and Opens Doors of E&S Property Business

11/11/2019
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WESTFIELD CENTER, OH (November 11, 2021) —Westfield Specialty, a subsidiary of Westfield Insurance, today announced an agreement to acquire the renewal rights of Argo Group’s US Property, Shared and Layered property business.

“This renewal rights transaction is a significant step in our E&S property launch and commitment to the wholesale property marketplace,” said Jack Kuhn, president of Westfield Specialty. “We are excited for the opportunity to onboard additional underwriting talent and expertise while gaining a meaningful footprint into shared and layered property.”

Andy Hendrix, EVP of E&S Property at Westfield Specialty commented, “The acquisition of the Argo portfolio aligns with our strategic approach of short line deployments within target occupancy classes. The mix of primary versus excess business is indicative of a stable portfolio that limits volatility. We are excited to open our doors to our broker partners and provide fresh capacity into the market through the trusted, talented underwriters we have added over the past few weeks,” Hendrix added.

Westfield Specialty will acquire renewal rights on all business effective January 1, 2022.

As a part of the transaction, Argo Group will continue to honor and service all policies currently in force.

The terms of this transaction were not disclosed.

About Westfield

Founded in 1848, Westfield is a global leader in property and casualty insurance, delivering superior risk insights and innovative solutions to customers through a diverse portfolio of insurance products. Westfield underwrites commercial, personal, surety, and specialty lines of coverage through a network of leading independent agents and brokers in the United States and specialty products through Lloyd’s of London Syndicate 1200. As a mutual insurance company with more than 3,000 employees, Westfield has revenues in excess of $4 billion and more than $10 billion in assets.