Kemper Corporation has reported a net income of $126.1 million for the second quarter of 2020, a slight increase from...AM Best analysts have described why, in terms of both …Re/insurance broker, Ed has announced the appointment of Michael Lock …Catastrophe risk modeller CoreLogic has announced the appointment of Pat Dodd to …This field is for validation purposes and should be left unchanged. Specialty re/insurer Argo has registered a $6.4 million net loss in the second quarter, down from the $28.8 million profit in the prior year quarter.Argo’s $1.2 million underwriting loss for the quarter represents an improvement from the $14.5 million recorded in the the prior year quarter.Gross Written Premium stood at $800 million, with 5.9% growth in the US and 3.5% on a consolidated basis.The 2020 second quarter result included lower investment income and foreign currency exchange losses compared to foreign currency exchange gains in the prior year period.On a consolidated basis, gross written premium grew 3.5% to $799.6 million driven by pricing increases, compared to $772.9 million for the 2019 second quarter.Premium growth in US Operations was 5.9%, while premiums in International Operations were flat compared to the prior year quarter.Net investment income of $1.5 million decreased 96.5% compared to $48.2 million the 2019 second quarter.Net investment income excluding alternatives decreased 25.2% to $24.9 million, while alternative investments, which are reported on a lag, contributed a loss of $23.4 million in the second quarter of 2020.The decline in the portfolio excluding alternatives was primarily due to lower interest rates and portfolio de-risking actions that have been executed since the fourth quarter of 2019.Operating loss was $4.7 million, compared to operating income of $16.8 million or for the 2019 second quarter.The primary driver of the decline in operating income was lower investment income in the second quarter of 2020, partially offset by improved underwriting results.“We are pleased to report the strongest quarterly underwriting income for the U.S. in Argo’s history,” said Argo Chief Executive Officer Kevin J. Rehnberg.“This demonstrates our shift to more positive underlying performance, particularly in our core U.S. specialty business that delivered an excellent quarter despite the broader economic challenges related to COVID-19.“The company’s operating results were, however, still negatively impacted by market volatility in our investment portfolio and the pandemic’s effects on premium growth and catastrophe losses, particularly in our International Operations.”“We continue to experience strong improvement in pricing across the business,” added Rehnberg.“We remain optimistic that current market conditions will provide opportunity for continued growth and margin improvement.“In addition, our recent preferred stock offering provides Argo with additional capital, enhancing our financial strength, and enables us to more aggressively pursue our strategic growth objectives in this attractive underwriting environment.”By submitting the form you are giving your consent to be emailed by us.We have 150,000+ monthly reinsurance news readers & 13,000+ daily email subscribers. On the international side, Argo posted an underwriting loss of $26.9 million in the second quarter versus $30.4 million in the same period last year. Argo denied all accusations regarding lavish spending, though the company is now evaluating its compensation policies.Argop said that the expected Q4 2019 underwriting red ink stems, in part, from prior accident year losses of $77 million, current accident year losses of $30 million, $3 million in catastrophe losses, and $12 million connected to job cuts and costs relating to its European business unit.Argo issued the statement in advance of the Feb. 24, 2020 scheduled release of its Q4 2019 financial results.Interim CEO Kevin Rehnberg said that the company is taking aggressive steps to improve things.“Argo’s results for the 2019 fourth quarter and full year are clearly unacceptable,” Rehnberg said in prepared remarks. 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Meanwhile, the company’s combined ratio hit 100.3%, compared to 103.4% in Q2 2019. Our underwriters are organized into four divisions: liability, marine and energy, property, specialty. Argo Group International Holdings Ltd. is warning that its 2019 fourth quarter will feature some “unacceptable” results, particularly a $114 million underwriting loss. Q4 2019 Disappoints Argo reported a $103.3 million net loss in Q4 2019, or negative $3.01 per common share. Specialty re/insurer Argo has registered a $6.4 million net loss in the second quarter, down from the $28.8 million profit in the prior year quarter. The Bermuda-based specialty insurer and reinsurer announced in November that Watson was “retiring” … Argo (NYSE: ARGO) reported a net income loss of $6.4 million, or 18 cents per share, compared to net income of $28.8 million, or $0.83 per share, for …