Activist shareholder fires out on “Argo's attempts to rewrite the past”

“We disagree, and we believe that the facts clearly indicate that the company’s attempt at transformation has failed: Argo has continued to underperform its peers and the relevant indices since every point in early 2020 that could reasonably mark the beginning of a supposed transformation.”

The fund, which in 2021 urged Argo’s board to consider the prospect of selling the business, is of the strong view that the underwriter’s roster of directors must immediately be augmented and reconstituted. Capital Returns has put forward two director candidates, whose nomination prompted the aforementioned release by Argo.

“It is worth noting that the

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