Argo Group International Holdings, an international underwriter of specialty insurance and reinsurance products, has announced that its Trident Insurance Services unit has acquired Massamont Insurance Agency.
The acquisition expands Argonaut’s public entity footprint in New England, a market previously underserved by Trident. Hilbert Schenck II, will assume the role of president of Trident while continuing his leadership of Massamont.
The acquisition is the evolution of a managing general agency partnership established in 2007. The new combined organization will do business under the Trident and Massamont names and will have operations in San Antonio, Boston, Greenfield, and Chicago, that will maximize its capacity to write public entity risks across the US.
Michael Arledge, president of Argonaut Select Markets, said: The opportunities for growth and development afforded by this transaction are significant. We are now the second largest writer of small-to- medium-size public entities in the US. I am confident that we will quickly become number one.