Argo Group International, a specialty insurance underwriter, has announced the appointment of Chris Donahue as its new CEO. Donahue will be taking over from Jessica Buss, who has been leading the company since November 2023. Donahue originally joined Argo as the Chief Financial Officer (CFO) in November 2023, and will now be succeeded in this role by David Chan.
Chan, who has been with Argo since 2022 as the Chief Accounting Officer, brings a wealth of experience to his new role. Prior to joining Argo, Chan held senior positions at AmTrust Financial Services, Moody’s Investor Services, and PwC.
The Argo board of directors chair, Jonathan Bayer, expressed his confidence in Donahue’s leadership, highlighting his role in transforming Argo into a US-focused specialty property & casualty company. Bayer also commended Jessica Buss for her leadership and contributions to the company’s growth and transformation, wishing her the best in her future endeavors.
In 2023, Argo Group was acquired by Brookfield Reinsurance in a deal valued at approximately $1.1 billion. As part of the acquisition, Brookfield purchased all issued and outstanding Argo common shares at $30 each, leading to the cessation of Argo’s common shares trading on the New York Stock Exchange. The company now operates as a subsidiary of Brookfield, with its headquarters in Hamilton, Bermuda.
Argo Group specializes in underwriting insurance solutions for the property and casualty industry, offering products and services tailored to meet the specific coverage and claims-handling needs of businesses. The appointment of a new CEO and CFO marks an exciting chapter for the company as it continues to focus on growth and innovation under new leadership.
This article was originally published by Life Insurance International, a GlobalData owned brand.
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