Argo’s share price closes down 14% on Q4 reserve strengthening news

Kevin Rehnberg – Argo Group

Argo Group’s share price closed down 14 percent on Wednesday, following a 6.9 percent drop the previous day, as investors reacted to the Bermudian (re)insurer revealing its fourth-quarter results will include up to $140mn of adverse prior year reserve development and up to $70mn of non-operating charges.

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