Argonaut Completes Purchase of Front Royal

Argonaut Group, Inc. (Nasdaq:AGII) announced yesterday that it has completed the previously announced acquisition of Front Royal, Inc., an insurance holding company headquartered in Morrisville, North Carolina for $165 million in cash. Front Royal operates specialty niche insurance underwriters with particular expertise in excess and surplus lines and workers compensation for targeted types of businesses. Its principal subsidiaries are Colony Insurance Group, located in Richmond, Virginia; Rockwood Casualty Insurance Company, located in Rockwood, Pennsylvania; and The Redwoods Group, a manag...