Argo Group’s $235 million acquisition of Ariel Re is now complete, and the acquired company’s former CEO has a job with the combined company.
Ryan Mather, Ariel Re’s former chief executive officer, will be Argo Group’s global head of reinsurance, leading all reinsurance operations. He’s essentially keeping the same role, because Ariel Re’s brand is continuing with the combined company, as a member of Argo Group.
Plans call for having Mather report directly to Jose Hernandez, head of Argo Group’s International Business.
Argo Group’s acquisition of Ariel Re, first announced in November, closed on Feb. 6. Argo Group CEO Mark E. Watson III said that the deal was a good one on multiple levels.
Watson said in prepared remarks that Mather’s “leadership and collaboration were key factors in our ability to finalize this agreement and begin implementing the company’s integration plan so swiftly.”
“This is reflective of the teamwork and outstanding results we expect to see in the future,” Watson said.
Source: Argo Group