Argo Group is a specialty property and casualty insurer focused on the Excess and Surplus Lines (E&S) market in the U.S. E&S covers risks that standard insurers won't write — unusual or hard-to-place exposures in areas like construction, environmental liability, inland marine, and casualty. Because these risks require bespoke underwriting rather than standardized pricing, Argo argues its underwriters have more flexibility over rates and terms, which should translate to better loss ratios over time. Argo distributes primarily through wholesale brokers, who submit risks and rely on Argo to quote and bind. Argo operates through two active segments: Casualty Lines and Specialty Lines. Casualty Lines includes construction general liability, environmental liability, general E&S casualty, specialty workers' compensation for the mining industry, and general and product liability for Fortune 2000 companies via its Bermuda platform. Specialty Lines includes programs and fronting for MGAs, auto dealer property and liability products, inland marine coverage, and commercial property for Fortune 1000 accounts through Bermuda. Argo also carries a run-off segment with legacy liabilities from discontinued businesses, including long-tail asbestos and environmental claims dating back to the 1960s–1980s. Argo's business model follows the standard P&C insurer approach: collect premiums upfront, pay claims later, and invest the float — primarily in investment-grade fixed income managed by Brookfield Asset Management. Argo cedes a significant portion of risk to reinsurers, with a reinsurance recoverable balance of ~$3.1B.