Bermuda-based specialty insurance and reinsurance underwriterArgo Group International Holdings Limited announced the launchtoday of Argo Financial Products Limited.

Led by newly-appointed Chief Executive Officer Colin Thompson,formerly at Axis Specialty, Argo Financial will underwrite a rangeof financial products through Heritage Underwriting Agency Limited,which this year became a subsidiary of Argo Group, the companysaid.

Also today, Argo Financial introduced its first product offeringto the London Market.

The company said the product named Sentinel is designed toprovide clients with policy protection in the event of insurerfailure. Sentinel said it offers protection for the duration of thepolicy and can be bought at inception of an insurance policy ormid-term.

Richard Pexton, chief executive officer, Heritage UnderwritingAgency Limited, said, “Argo Financial's innovative product offeringwill be a welcome addition to the London Market, particularly at atime when policy security is of the utmost importance to clients.The specialist financial lines products, which Argo Financial willwrite through Heritage, will both enhance Argo Group's presentproduct set and position us well for further growth.”

Colin Thompson, CEO, Argo Financial, said, “Sentinel has beendesigned to provide a cost effective form of protection for companybalance sheets from insurer failure, providing our clients with thepeace of mind provided by a Lloyd's policy.”

Argo Financial specializes in financial lines products andspecifically focuses on Directors' and Officers' Liability, PublicOffering of Securities Insurance, Employment Practices Liability,Pension Trustee Liability, Crime, Bond and Professional Indemnityfor Financial Institutions. The Company will focus on non-U.S.domiciled Insureds and will be able to offer limits of up to ?10million or $20 million.

Argo Financial will be underwriting through HeritageUnderwriting Agency Limited. Heritage this year became a subsidiaryof Argo Group International Holdings, Ltd.