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Private equity investors Pelican Ventures and JC Flowers Co have completed their acquisition of Ariel Re from Argo Group. Ariel Re underwrites a global portfolio of reinsurance products in Bermuda, London and Hong Kong through its Lloyd’s platform.
“Argo Group will continue to focus on specialty insurance lines of business that we expect will result in profitable growth and improved shareholder value,” Rehnberg said. “This transaction aligns with our strategy to simplify the business and streamline operations.”