Reminds Shareholders to Vote the WHITE Proxy Card in Support of
Argo’s Highly Qualified Slate of Directors
HAMILTON, Bermuda–(BUSINESS WIRE)–Argo Group International Holdings, Ltd. (NYSE: ARGO) (“Argo” or the
“Company”) today issued the following statement in response to Voce
Capital Management (“Voce”):
“As of last night, it was clear that shareholders were overwhelmingly
supporting Argo, and that Voce did not have the support it needed for
its proposals and director nominees. Rather than allow the process to
continue and let shareholders decide the issue, Voce has chosen to
abandon its activist campaign before the vote became final.
Argo has not seen any of the notices, letters or materials exchanged
between Voce and relevant state departments of insurance. These matters
have at all times been within the exclusive control of Voce, not Argo.
However, based on Voce’s press release, it appears that Voce may have
failed to take all steps or disclose all information required by the
departments of insurance in a timely fashion.
It is unfortunate that Voce, having failed to address such rudimentary
state regulatory requirements well in advance of beginning its campaign,
now offers this as an excuse for its decision not to let its proposals
proceed to a vote.
Argo fully supports the right for shareholders to exercise their vote.
Argo continues to engage with shareholders as we pursue our strategy for
strong shareholder returns and our clear path for driving continued
value creation. We thank our shareholders for their continued support.”
Additional information regarding the Annual General Meeting, including
detailed instructions on how to vote by telephone or internet, is
available at https://www.argolimited.com/investors/.
ABOUT ARGO GROUP INTERNATIONAL HOLDINGS, LTD.
Argo Group International Holdings, Ltd. (NYSE: ARGO) is an international
underwriter of specialty insurance and reinsurance products in the
property and casualty market. Argo Group offers a full line of products
and services designed to meet the unique coverage and claims handling
needs of businesses in two primary segments: U.S. Operations and
International Operations. Argo Group’s insurance subsidiaries are A. M.
Best-rated ‘A’ (Excellent) (third highest rating out of 16 rating
classifications) with a stable outlook, and Argo Group’s U.S. insurance
subsidiaries are Standard and Poor’s-rated ‘A- ‘(Strong) with a positive
outlook. More information on Argo Group and its subsidiaries is
available at www.argolimited.com.
ADDITIONAL INFORMATION
Argo Group International Holdings, Ltd. (“Argo Group”) has filed a
definitive proxy statement and WHITE proxy card with the U.S. Securities
and Exchange Commission (the “SEC”) in connection with its solicitation
of proxies for its 2019 Annual General Meeting of Shareholders (the
“2019 Annual General Meeting”). ARGO GROUP SHAREHOLDERS ARE STRONGLY
ENCOURAGED TO READ THE DEFINITIVE PROXY STATEMENT (AND ANY AMENDMENTS
AND SUPPLEMENTS THERETO) AND ACCOMPANYING WHITE PROXY CARD WHEN THEY
BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION.
Shareholders may obtain the proxy statement, any amendments or
supplements to the proxy statement and other documents as and when filed
by Argo Group with the SEC without charge from the SEC’s website at www.sec.gov.
CERTAIN INFORMATION REGARDING PARTICIPANTS
Argo Group, its directors and certain of its executive officers may be
deemed to be participants in connection with the solicitation of proxies
from Argo Group’s shareholders in connection with the matters to be
considered at the 2019 Annual General Meeting. Information regarding the
identity of potential participants, and their direct or indirect
interests, by security holdings or otherwise, is set forth in the proxy
statement and other materials to be filed with the SEC. These documents
can be obtained free of charge from the sources indicated above.
If you have questions or need assistance in voting your shares,
please contact:
INNISFREE M&A INCORPORATED
Shareholders
Call Toll-Free: (877) 456-3442
Banks and Brokers Call
Collect: (212) 750-5833
Contacts
Argo Group International Holdings, Ltd.
Media:
David
Snowden, 210-321-2104
Senior Vice President, Group Communications
[email protected]
or
Investors:
Susan
Spivak Bernstein, 212-607-8835
Senior Vice President, Investor
Relations
[email protected]
