Argo Group Restructuring U.S. and Bermuda Subsidiaries

Argo Group International Holdings is restructuring the organization of its U.S. and Bermuda subsidiaries at the end of the year, the company announced Friday. All U.S. subsidiaries of Argo will be wholly owned by one intermediate U.S. holding company. Argo will merge two intermediate Delaware holding companies: Argonaut Group Inc., which owns the assets of the former U.S. publicly traded company by the same name, and PXRE Corp., which owns Connecticut-domiciled carrier PXRE Reinsurance Co. and will be the surviving entity in the merger. The unified U.S. holding company will go forward und...