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Argus Group Holdings Limited - Announces Appointment of Mr. David A. Brown to Chairman

Hamilton, Bermuda, February 15, 2021 – In a filing with the Bermuda Stock Exchange (“BSX”), Argus Group Holdings Limited (the “Group” or the “Argus Group”; Ticker: AGH.BH) announced the appointment of Mr. David A Brown to Chairman of the Board, with effect from April 1st, 2021.  The filing states:

 

Hamilton, Bermuda (February 15, 2021) – Argus Group Holdings Limited (“Argus”, the” Company” or the “Argus Group”) is pleased to announce that it has appointed insurance industry veteran, David A. Brown, as Chairman of the Board, effective April 1st. Mr. Brown will succeed Sheila Nicoll, who has been a member of the Board for 15 years and who has served as the Chairman since 2010.

 

Ms. Nicoll said, “Over my years as Chairman, the Board has strongly promoted strategies to enhance future growth, diversification and resilience of earnings. To support these strategies, Argus has in place a robust process for identifying the skills and experience necessary to help drive them forward. We also use this process for Board and Chairman succession planning. We welcomed David as a member of the Board a year ago and are pleased that he will now become Chairman. He comes with a wealth of experience having run a number of insurance companies and having served on the Boards of several more.”

 

Mr. Brown said he is excited about the opportunity to work with Argus in this new role. “Argus is a company with great potential and has been undergoing some serious adjustments related to the changing healthcare system in Bermuda and the Company’s expansion internationally. This makes the work of the Board both challenging and interesting for directors like me. The Management team is energetic and has been creative in developing ideas to grow its business overseas and to deal with the necessary adjustments in the healthcare and pension businesses.

 

I was particularlyattracted to the Argus ethos of always trying to do the right thing for its customers, its employees, the community and, of course, its shareholders. In a small community such as ours, we know people from all of these groups and it is important to me that I believe we treat all of them equitably.”

  

Alison Hill, Chief Executive Officer of the Argus Group, said she was very pleased with the appointment of Mr. Brown. “From the beginning, we were impressed with his focus on supporting and challenging management to deliver growth and long-term sustainable value for our shareholders.

 

Argus finds itself at a pivotal point. It is vital that we have someone at the helm who complements our strong Board with experience and capabilities that match our ambitious strategy, whilst being true to our culture. David has a valuable set of skills and insights: he has been a partner in an accountancy firm, a CEO and a Chair. He has led global insurance and reinsurance businesses, is an entrepreneur and is a well-respected and well-connected community advocate.

 

For many years the Argus Group has successfully operated independent brokerage and insurance companies in Bermuda, Gibraltar and most recently in Malta. This year, two of our Maltese firms - Island Insurance Brokers Limited and FirstUnited Insurance Brokers Limited will merge. The merger is very much part of Argus’ strategic intent to diversify, expand and strengthen the Argus Group’s international presence and existing broking capabilities in the Maltese market.

 

Our acquisition of two Bermuda-based medical practices in July 2020, along with OTH, our Canadian-based care and network management business, allows us to create a unique healthcare ecosystem. Our goal is to create a Better Health Partnership focused on delivering quality integrated healthcare solutions that incentivise healthy outcomes whilst managing down health cost inflation and over-utilization. In this partnership, our aims and our focus are all aligned.  By joining insurance and healthcare together, we aim to make quality care more affordable for more people.”

 

Ms. Hill concluded, “The stage is set for us to grow, diversify and deliver progressive solutions for the ever-changing needs of our rapidly expanding client base. With his appointment as the Argus Group’s Chairman, David’s unique set of skills and strong belief in our mission will enable him to play a key role in moving our strategies and initiatives forward.”

  

Notes to Editors

Argus Group Holdings Limited and its subsidiaries, commonly known as the Argus Group, is a multi-line insurance, medical practices and financial services organisation offering a full range of insurance including health and brokerage services, pensions and investment products targeted at local and international organisations and individuals. Through its subsidiary Bermuda Life Insurance Company Limited, it is the leader in group health insurance and pension plans in Bermuda.

 

Certain statements in this release may be deemed to include “forward-looking statements” and are based on management’s current expectations and are subject to uncertainty and changes in circumstances.

 

For further information, visit to www.argus.bm.

  

Media Contacts:

 

Alison Hill                                                       Peter Dunkerley

Chief Executive Officer                                     Chief Financial Officer

Telephone:  441 294-5725                               Telephone:  441 298-0566

E-mail: ahill@argus.bm                                    E-mail: pdunkerley@argus.bm

    

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For more information on the Bermuda Stock Exchange (BSX), contact James Best at 1-441-292-7212 or jbest@bsx.comInformation is also available at www.bsx.com and on Bloomberg at BSX. Established in 1971 the Bermuda Stock Exchange (BSX) is now the leading fully electronic offshore securities market. The BSX specializes in listing and trading of capital market instruments such as equities, debt issues, funds, hedge funds, derivative warrants and Insurance Linked Securities. The BSX, recognised by the US SEC as a Designated Offshore Securities Market, is a member of the World Federation of Exchanges and is located in an O.E.C.D. member nation. The BSX has Approved Stock Exchange status under Australia’s Foreign Investment Fund (FIF) taxation rules; Designated Investment Exchange status by the UK’s Financial Services Authority; Recognised Stock Exchange by the UK HM Revenue and Customs; Designated Exchange status under Canada’s Income Tax Act and is a member of America’s Central Securities Depository Association.

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