Argo group international holdings, ltd. (ARGO)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10Sep'09Jun'09
Premiums and other revenue:
Earned premiums

435,000

425,800

451,500

431,700

420,500

452,400

446,900

417,700

414,700

404,500

389,300

399,100

379,400

362,300

358,700

344,900

344,900

345,300

346,000

346,000

334,600

338,700

337,600

336,100

325,700

341,600

330,500

327,500

304,200

314,700

304,300

290,200

277,300

278,000

270,900

271,700

261,400

274,700

288,900

324,500

323,500

347,200

372,200

Net investment income

35,500

34,200

40,200

42,800

33,900

29,400

34,500

33,200

36,000

35,000

30,900

43,600

30,500

25,500

32,700

35,700

21,200

20,100

18,400

24,400

25,700

41,400

20,800

20,600

23,300

22,700

24,100

25,300

27,900

28,500

28,900

30,000

31,400

29,500

30,000

32,900

33,400

33,100

33,600

33,100

33,800

31,900

41,900

Fee and other income

2,100

2,800

1,900

2,100

2,300

1,800

3,300

1,900

2,000

2,100

13,000

3,800

3,600

4,300

7,600

5,800

6,800

4,300

9,200

4,100

4,600

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net realized investment (losses) gains:
Net realized investment gains (losses)

27,900

116,700

-6,200

12,000

-1,700

24,100

14,200

10,500

-15,700

14,200

6,000

4,500

14,600

-

-

-

-

-

-

-

-

-

-

18,500

11,100

-

9,100

11,000

9,500

7,000

8,300

-2,700

13,100

11,500

3,900

31,500

2,300

8,200

9,100

5,000

14,500

700

-9,200

Change in fair value of equity securities

-39,300

-98,800

-8,800

12,600

54,200

-

4,500

4,300

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Credit losses on fixed maturity securities

24,700

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net realized investment (losses) gains

-36,100

-

-

-

52,500

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Equity Securities F V N I Unrealized Gain Loss

-39,300

-98,800

-8,800

12,600

54,200

-83,000

4,500

4,300

-30,900

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Fee income, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

300

200

-

-

3,000

500

1,300

-400

1,400

300

100

500

1,700

-200

500

700

-1,100

Total revenue

436,500

484,500

487,400

488,600

509,200

402,600

498,900

463,300

437,000

455,800

439,200

451,000

428,100

405,400

416,700

384,300

370,100

373,400

380,200

377,200

376,000

431,200

372,900

375,200

360,100

405,500

364,000

364,000

341,600

345,400

344,500

318,000

323,100

318,600

306,200

336,400

297,200

316,500

333,300

362,400

372,300

380,500

403,800

Expenses:
Losses and loss adjustment expenses

280,900

359,200

338,800

284,800

237,900

280,600

277,500

245,500

237,200

270,700

326,400

230,600

222,500

214,100

207,800

196,600

191,600

191,800

200,000

190,600

183,700

187,900

191,900

185,100

182,500

187,900

190,900

192,700

170,500

219,700

186,300

175,800

165,800

198,700

199,600

191,000

273,800

172,600

176,900

215,900

212,100

208,300

233,100

Other reinsurance-related expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,800

4,600

4,700

5,100

6,500

7,000

6,900

6,900

2,800

2,700

400

0

-

-

-

-

-

-

Underwriting, acquisition and insurance expenses

168,000

169,000

167,700

168,900

160,200

169,700

168,000

156,800

160,200

161,000

166,100

154,700

153,600

144,000

137,400

133,000

132,600

134,800

132,800

139,500

129,600

137,700

133,800

136,800

128,700

132,800

126,700

124,600

126,700

118,200

118,000

114,600

113,700

111,000

104,200

105,400

105,100

105,300

115,800

117,400

127,500

133,700

122,700

Other corporate expenses

3,300

-

-

-

500

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest expense

7,700

8,300

7,500

9,300

8,500

8,200

7,900

7,800

7,700

7,300

7,500

7,000

5,900

5,000

4,900

4,900

4,800

4,700

4,800

4,600

4,900

4,900

4,900

5,100

5,000

5,100

5,100

5,100

4,900

6,700

5,800

5,500

5,700

5,600

5,600

5,500

5,400

5,600

5,800

5,500

6,000

6,100

6,700

Fee and other expense

1,200

2,000

1,200

1,300

1,300

1,600

1,900

1,600

2,000

2,200

5,000

3,300

4,100

4,300

5,900

5,700

6,500

7,800

8,200

4,800

5,000

-

-

100

-1,400

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Foreign currency exchange (gains) loss

3,000

3,400

1,600

5,300

-700

-2,200

1,700

5,500

-4,900

-2,300

-100

-4,600

700

9,000

1,500

-4,500

-1,500

9,900

1,800

-3,000

9,600

5,000

6,000

-3,400

200

-3,500

-3,800

5,900

3,100

-1,500

-9,700

9,800

-2,900

11,400

-1,900

-3,400

-9,600

-8,100

-3,400

8,500

6,800

5,000

-12,900

Impairment of intangible assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

5,900

Total expenses

458,100

587,800

513,600

459,000

409,100

462,300

453,600

406,200

412,000

443,500

505,100

400,200

385,400

358,400

354,500

344,700

337,000

329,200

344,000

342,500

313,600

350,900

324,600

330,500

317,400

339,000

331,100

321,200

304,100

349,500

326,800

293,000

295,000

310,500

310,200

305,700

393,900

291,600

301,900

330,300

338,800

343,100

381,300

(Loss) income before income taxes

-21,600

-103,300

-26,200

29,600

100,100

-59,700

45,300

57,100

25,000

12,300

-65,900

50,800

42,700

47,000

62,200

39,600

33,100

44,200

36,200

34,700

62,400

80,300

48,300

44,700

42,700

66,500

32,900

42,800

37,500

-4,100

17,700

25,000

28,100

8,100

-4,000

30,700

-96,700

24,900

31,400

32,100

33,500

37,400

22,500

Income tax (benefit) provision

-2,800

0

-1,100

800

8,900

-16,100

4,700

15,300

200

-16,600

-4,600

4,800

6,000

14,100

7,000

8,700

5,400

3,000

900

6,800

3,600

20,600

3,600

6,100

2,500

18,700

1,900

11,100

4,800

600

4,300

1,000

8,500

6,700

6,800

9,100

-2,600

8,000

8,400

6,000

12,800

9,800

600

Net income before equity in earnings of subsidiaries

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

35,300

27,900

58,800

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Equity in undistributed earnings of subsidiaries

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net (loss) income

-18,800

-103,300

-25,100

28,800

91,200

-43,600

40,600

41,800

24,800

28,900

-61,300

46,000

36,700

32,900

55,200

30,900

27,700

41,200

35,300

27,900

58,800

59,700

44,700

38,600

40,200

47,800

31,000

31,700

32,700

-4,700

13,400

24,000

19,600

1,400

-10,800

21,600

-94,100

16,900

23,000

26,100

20,700

27,600

21,900

Net (loss) income per common share:
Basic (in dollars per share)

-0.55

-3.04

-0.73

0.84

2.68

-1.29

1.20

1.23

0.73

0.86

-1.78

1.32

1.06

0.45

1.84

1.03

0.91

1.16

1.15

0.91

2.09

1.51

1.57

1.34

1.38

1.31

1.16

1.18

1.20

-0.30

0.48

0.93

0.75

0.28

-0.39

0.79

-3.42

0.60

0.78

0.87

0.68

0.89

0.71

Diluted (in dollars per share)

-0.55

-2.98

-0.73

0.83

2.63

-1.25

1.17

1.20

0.71

0.88

-1.78

1.29

1.03

0.44

1.80

1.00

0.89

1.13

1.13

0.89

2.05

1.48

1.54

1.32

1.36

1.26

1.12

1.13

1.16

-0.30

0.47

0.92

0.74

0.29

-0.39

0.78

-3.42

0.60

0.77

0.86

0.67

0.89

0.71

Dividends declared per common share (in dollars per share)

0.31

0.31

0.31

0.31

0.31

0.27

0.27

0.27

0.27

0.25

0.23

0.23

0.23

0.11

0.22

0.22

0.20

0.17

0.18

0.18

0.20

0.11

0.16

0.16

0.14

0.10

0.15

0.15

0.14

0.08

0.12

0.12

0.12

0.08

0.12

0.12

0.12

0.12

0.12

0.12

0.12

0.00

0.00

Weighted average common shares:
Basic (in shares)

34,469

34,344

34,299

34,195

33,984

33,924

33,956

33,938

33,868

34,066

34,475

34,731

34,554

48,081

30,018

30,187

30,479

33,496

30,707

30,742

28,129

39,758

28,552

28,761

29,165

37,254

26,682

26,962

27,247

32,767

27,751

25,684

26,177

37,420

27,237

27,340

27,550

28,255

29,504

29,878

30,625

30,765

30,685

Diluted (in shares)

34,469

33,005

34,299

34,779

34,737

34,649

34,656

34,668

34,740

35,722

34,475

35,705

35,582

49,220

30,728

30,810

31,132

34,226

31,320

31,316

28,677

40,518

29,080

29,274

29,663

38,639

27,819

28,009

28,157

33,714

28,333

26,071

26,482

37,075

27,237

27,685

27,550

28,730

29,876

30,278

30,858

30,889

30,794

Net realized investment (losses) gains before other-than-temporary impairment losses

-36,100

-

-

-

56,800

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net realized investment gains

-

-

2,600

-600

-

-

9,700

6,200

15,200

-

6,200

5,600

15,000

14,500

20,100

2,800

-1,100

10,300

10,000

4,100

11,600

32,700

13,100

19,900

11,100

47,600

9,200

11,400

10,900

8,700

9,400

-1,900

13,200

11,500

5,100

31,500

2,300

-

9,100

5,800

-

9,500

4,500

Net realized investment gains (losses) before other-than-temporary impairment losses

-

-

-1,200

14,500

-

-75,300

14,200

11,400

-14,700

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other-than-temporary impairment losses recognized in earnings:
Other-than-temporary impairment losses on fixed maturities

0

8,500

5,000

2,500

4,300

4,700

0

900

1,000

700

100

0

0

0

600

500

600

1,300

0

500

400

0

0

1,200

0

-

0

300

-

-

1,100

300

-

-

100

0

-

-

0

-800

-

0

-300

Other-than-temporary impairment losses on equity securities

-

-

-

-

-

-

-

-

-

100

100

1,100

400

1,200

1,800

4,400

1,100

5,300

3,400

900

100

700

200

200

0

200

100

100

1,400

1,800

0

500

-100

0

1,100

0

0

-

0

-

-

-1,400

-7,400

Impairment losses recognized in earnings

0

8,500

5,000

2,500

4,300

5,700

0

900

1,000

800

200

1,100

400

1,200

2,400

4,900

1,700

6,600

3,400

1,400

500

700

200

1,400

0

5,900

100

400

1,400

3,500

1,100

-800

-100

2,400

-1,200

0

0

-

0

-800

-

-8,800

-13,700

Fee and other income (expense), net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,600

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net realized investment and other gains

-

-

-

-

-

-

-

-

-

-

6,000

4,500

14,600

-

17,700

-2,100

-2,800

3,700

6,600

2,700

11,100

-

12,900

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other-than-temporary impairment losses on Funds at Lloyd's foreign currency exchange

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-7,400

-6,000

Other-than-temporary impairment losses on other investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

Non-credit portion of losses recognized in other comprehensive income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

0

0

0

0

-

0

0

-

0

0

Net realized investment (losses) gains

27,900

116,700

-6,200

12,000

-1,700

24,100

14,200

10,500

-15,700

14,200

6,000

4,500

14,600

-

-

-

-

-

-

-

-

-

-

18,500

11,100

-

9,100

11,000

9,500

7,000

8,300

-2,700

13,100

11,500

3,900

31,500

2,300

8,200

9,100

5,000

14,500

700

-9,200