Argo Losses Reach $84M for First Nine Months of 2011

Argo Group posted a net loss of $12.1 million for the third quarter, as its total revenue declined 9% to $303.5 million.The report put the Bermuda-based carrier's total losses at $83.8 million for the first nine months of 2011. Despite those results, Argo increased gross written premiums to $448.5 million in the third quarter, compared to $398.3 million in the prior-year third quarter. Gross written premiums were $1.2 billion in the first nine months of 2011, about the same as the previous year."It has been a challenging quarter in a year of significant catastrophe activity for the industr...