Argo Group (AGII)
has a good platform of excess & surplus and commercial specialty
insurance, and the company's premium growth, loss ratios, and reserve
developments have been typically been as good or better than peers over
the last five years. The sticking point has been the company's
uncommonly high expense ratio and its impact on reported returns. These
shares have headed about 10% higher since I last wrote
on them, and Monday's earnings suggest that optimism about better
expense control and higher reported income is the correct position for
now.
Please continue here:
Good Progress At Argo Group
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