Call Start: 10:00 January 1, 0000 10:26 AM ET

Argo Group International Holdings, Ltd. (NYSE:ARGO)

Q3 2022 Earnings Conference Call

November 8, 2022 10:00 AM

Company Participants

Andrew Hersom - Investor Relations

Thomas Bradley - Executive Chairman and Interim CEO

Scott Kirk - CFO

Conference Call Participants

John Heagney - Dowling & Partners

Operator

Hello. Welcome to today's Argo Group Third Quarter 2022 Earnings Call. My name is Bailey, and I will be the moderator for today's call. [Operator Instructions]

I would now like to pass the conference over to our host, Andrew Hersom, Head of Investor Relations. Please go ahead.

Andrew Hersom

Thank you, and good morning. Welcome to Argo Group's conference call for the third quarter ended September 30, 2022. After the market closed last night, we issued a press release on our earnings, which is available in the Investors section of our website, argogroup.com, and was filed with the SEC. Presenting on today's call is Tom Bradley, Argo Group Executive Chairman and Chief Executive Officer; and Scott Kirk, Chief Financial Officer. As the operator mentioned, this call is being recorded. During this conference call, Argo management may make comments that reflect Argo's intentions, beliefs and expectations for the future. Such forward-looking statements are qualified by inherent risks and uncertainties surrounding future expectations generally and may materially differ from actual future results involving any one or more of such statements. Argo Group undertakes no obligation to publicly update forward-looking statements as a result of events or developments subsequent to the call.

For a more detailed discussion of such risks and uncertainties, please see Argo Group's filings with the SEC. Also note that we'll be referencing certain non-GAAP financial information. More information regarding these non-GAAP financial measures is provided in our earnings release. I will now turn the call over to Tom.

Thomas Bradley

Thank you, Andrew, and thank you to everyone for joining us today. Over the past 2 years, we have transformed Argo, better positioning the company to advance our business strategies. In September, we announced the sale of our Lloyd's operation, which marks a significant milestone in Argo becoming a focused, pure-play U.S. specialty insurer. Importantly, this transaction further simplifies our corporate structure and enables greater focus on our diverse portfolio of profitable and scalable U.S. specialty businesses. In addition, the announced U.S. loss portfolio transfer with Enstar will help provide protection against potential future reserve volatility. We believe these transactions will strengthen and de-risk our balance sheet and better position the company to evaluate additional strategic opportunities. We are fully committed to maximizing shareholder value and remain focused on our strategic review process for the benefit of all Argo's shareholders.