Best Recognizes Argonaut & Royal Deal

A.M. Best Co. announced its recognition of Argonaut Group, Inc.'s, San Antonio, Texas, signing of a definitive agreement to acquire Front Royal, Inc., an insurance holding company headquartered in Morrisville, North Carolina, for $165.0 million in cash. (See related story). Best says that the companies of Front Royal, which have been historically profitable in the specialty insurance markets they underwrite, bring to Argonaut products and expertise that enhance Argonaut's position in key specialty markets. It is expected that the transaction, which has been approved by the Boards of Direct...