Argo Group International Holdings, an underwriter of specialty insurance, has announced an agreement to sell the renewal rights of its contract binding property and casualty business to Mesa Underwriters Specialty Insurance Company (MUSIC).
As a part of the transaction, the Argo contract binding team will have the option to join MUSIC and continue to serve this market.
Argo Group said it will continue to “honor and service all policies currently in force”.
Marsh Duncan, president of excess and surplus at Argo, said the deal supports the company’s “strategy to simplify the business”.
Jeff Kamrowski, executive vice president, MUSIC, said: “Expanding our contract binding book of business is a natural evolution of our growth strategy, further ensuring MUSIC’s continued success.
“We are dedicated to our specialty insurance customers and are excited for the opportunity to offer our customized insurance solutions, stellar customer service, and superior claims handling to new contract binding accounts at renewal.”
He added: “This opportunity and trust that Argo places in MUSIC underscores our strong reputation and solid performance in the marketplace.”