Argo Group Net Income Declines After Investment Losses

Argo Group International Holdings on Tuesday reported net income of $27 million during the first quarter, down from $36.9 million in the same period last year, largely due to investment losses and other write-downs.Highlights for the quarter included: Pretax operating income in the 2009 first quarter was $43.2 million versus $40 million in the first quarter of 2008; after-tax operating income per share was $1.13 versus $1.14 for the 2009 and 2008 first quarters, respectively. Total revenue was $371.1 million, up 43.8% over the first quarter of 2008. Gross written premiums ...