Argo noted: “The net loss attributable to common shareholders in the second quarter 2022 included pre-tax net realized investment and other losses of US$40.4 million, of which US$21.3 million was attributable to a loss on the sale of the company’s Malta operations, ArgoGlobal Holdings.
“In comparison, net income attributable to common shareholders in the prior year second quarter included US$24.7 million of pre-tax net realized investment and other gains.”
According to the insurance group, the loss figure in Q2 also included non-operating expenses worth US$15.6 million. This spanned non-operating advisory fees and severance expenses.
Similarly, Argo suffered a US$22.5 million net loss attributable to common shareholders in the first six months of the year. It was a different story a year ago, when Argo posted US$94.3…