Bermuda-based specialty insurance and reinsurance underwriter Argo Group International Holdings Limited announced the launch today of Argo Financial Products Limited.

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

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

The company said the product named Sentinel is designed to provide clients with policy protection in the event of insurer failure. Sentinel said it offers protection for the duration of the policy and can be bought at inception of an insurance policy or mid-term.

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

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

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

Argo Financial will be underwriting through Heritage Underwriting Agency Limited. Heritage this year became a subsidiary of Argo Group International Holdings, Ltd.

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Argo Group Launches Argo Financial Products

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