argo group international holdings ltd series a pfd 2025年季度报告

Washington, D.C. 20549FORM10-Q For the quarterly period endedMarch31, 2025or Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period fromto ARGO GROUP INTERNATIONAL HOLDINGS, INC.(Exact name of registrant as specified in its charter) Indicate the number of shares outstanding of each of the issuer’s classes of common stock as of May8, 2025.As of May8, 2025, the registrant had13shares of common stock outstanding. Argo Group International Holdings, Inc. meets the conditions set forth in General Instruction H(1)(a) and (b) for Form 10-Q and therefore is filingthis Form 10-Q in the reduced disclosure format. 2. Recently Issued Accounting Pronouncements 9. Supplemental Cash Flow Information10. Underwriting, Acquisition and General Expenses 11. Income Taxes12. Commitments and Contingencies13. Segment Information14. Related Party Transactions15. Subsequent EventsManagement’s Discussion and Analysis of Financial Condition and Results of OperationsQuantitative and Qualitative Disclosures About Market RiskControls and ProceduresPART II. Other InformationLegal ProceedingsRisk FactorsUnregistered Sales of Equity Securities and Use of ProceedsDefaults Upon Senior SecuritiesMine Safety DisclosuresOther InformationExhibitsSignatures CONDENSED CONSOLIDATED BALANCE SHEETS(in millions, except number of shares and per share amounts)AssetsInvestments:Fixed maturities available-for-sale, at fair value (cost: 2025 - $1,866.4, 2024 - $2,032.9; allowance forexpected credit losses: 2025 - $1.2, 2024 - $0.9)Mortgage loans (cost: $218.3and $210.1, respectively; allowance for expected credit losses: $1.2and $1.2,respectively)Private loans (cost: $617.8and $577.3, respectively; allowance for expected credit losses: $5.9and $4.4,respectively)Equity securities, at fair value (cost: $402.2and $396.3, respectively)Other investments (cost: $573.4and $577.4, respectively)Short-term investments, at fair value (cost: $360.5and $254.1, respectively)Total investmentsCash, restricted cash and cash equivalentsAccrued investment incomePremiums receivableReinsurance recoverablesOther intangible assets, net of accumulated amortizationCurrent income taxes receivable, netDeferred tax asset, netDeferred acquisition costs, netCeded unearned premiumsOperating lease right-of-use assetsOther assetsValue of business acquired, net of accumulated amortizationTotal assetsLiabilities and Stockholders' Equity Accrued underwriting expenses and other liabilities In January 2025 certain subsidiaries of the Company entered into a Business Transfer Agreement, as amended and restated, with CoreSpecialty Insurance Holdings, Inc. (“Core”) and a Renewal Rights Agreement with Westfield Insurance Company, Westfield National goals and continue to serve our broker partners through growth across other lines of business.2.Recently Issued Accounting PronouncementsOn December 14, 2023, the FASB issued Accounting Standards Update 2023-09—Income Taxes (Topic 740): Improvements to Income standard is not anticipated to have a material impact on our profitability, financial position or cash flows.On November 4, 2024, the FASB issued Accounting Standards Update 2024-03—Income Statement—Reporting ComprehensiveIncome—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses.Disaggregation ofincome statement expenses is to improve interim and annual disclosures about a public business entity’s expenses by requiring moredetailed information in the notes to the financial statements about certain expense categories, including purchases of inventory,employee compensation, depreciation, amortization, and selling expenses. We expect to adopt ASU 2024-03 effective January 1, 2027 The amortized cost, gross unrealized gains, gross unrealized losses, allowance for credit losses, and fair value of fixed maturityinvestments were as follows:March 31, 2025GrossGross U.S. GovernmentsForeign Governments Obligations of states and political subdivisions66.21.9——Corporate bonds896.423.31.21.1Commercial mortgage-backed securities305.112.60.3—Residential mortgage-backed securities196.75.7——Asset-backed securities101.13.00.10.1 December 31, 2024 AmortizedCostGrossUnrealizedGainsGrossUnrealizedLossesAllowance forCredit LossesFairValueFixed maturitiesU.S. Governments$222.3$1.5$0.6$—$ Corporate bonds1,033.5Commercial mortgage-backed securities276.6 Asset-backed securitiesCollateralized loan obligations Total fixed maturities$2,032.9$40.0$3.1$0.9$ 9 The amortized cost and fair values of fixed maturity investments as of March31, 2025, by contractual maturity, were as follows: Due in one year or less$Due after one year through five years Fixed maturitiesU.S. Governments Corporate bondsCommercial mortgage-backed securities Asset-backed securities13.80.1—Total fixed maturities$83.9$1.7$11.4$ Total fixed maturities$117.0$2.8$ The Company holds a total of963fixed maturity securities, of which37