Argo Group (PXRE)
Specialty Property & Casualty Insurer / Reinsurer
In 2002, CZFS acquired a large minority interest in PXRE, which at the time was a leading provider of reinsurance coverage. PXRE was established in 1982 and traded on the New York Stock Exchange after its IPO in 1987.
In August 2007, the company merged with Argonaut Group to form Argo Group International (NASDAQ: AGII). The transaction created a more efficient platform for growth by bringing together Argonaut's expertise in underwriting attractive niche areas of the U.S. property and casualty market with PXRE's substantial international platform and tax efficient Bermuda-headquartered structure. With over $1.3 billion of capital, Argo Group is now considered a leading international underwriter of specialty insurance and reinsurance products in the property and casualty market.
