Argo Group Hires Two Execs for Finance Team

HAMILTON, Bermuda, Nov 10, 2009 (A. M. Best via COMTEX) --

Specialty insurer and reinsurer Argo Group International Holdings Ltd. said it's appointed two new executives to its finance division.

N. James Tees has been named chief accounting officer and treasurer, and Rip Reeves has been named chief investment officer. Both will report to Argo Group Chief Financial Officer Jay Bullock.

Tees has 18 years experience working in financial positions for insurance and reinsurance companies. He comes from Max Capital Group, where he most recently held the position of executive vice president of finance and investments. He's also worked for Stockton Holdings and Coopers & Lybrand.

Reeves has 25 years experience in portfolio management, sales and trading both on Wall Street and at investment firms. He was with Standish Mellon Asset Management for nine years, and also managed insurance assets at Scudder, Stevens and Clark and pension and insurance assets at J.P. Morgan Investment Management.

Attempts to reach the company for comment were not immediately successful.

Argo Group (NASDAQ: AGII) Argo Group is the combined holding company formed when Argonaut Group Inc. and PXRE Group Ltd. merged in 2007.

The company's stock was trading at $32.10, a share on the morning of Nov. 10, down 0.10% from the previous close.

Argonaut Insurance Co. currently has a Best's Financial Strength Rating of A (Excellent).