Schedule II CONDENSED FINANCIAL INFORMATION OF REGISTRANT

12 Months Ended

Dec. 31, 2024

Condensed Financial Information Disclosure [Abstract]

Schedule II CONDENSED FINANCIAL INFORMATION OF REGISTRANT

ARGO GROUP INTERNATIONAL HOLDINGS, INC.

SCHEDULE II

CONDENSED FINANCIAL INFORMATION OF REGISTRANT

(in millions)

	As of
BALANCE  SHEETS	December 31,
	2024		2023
Assets
Investment in subsidiaries	$	1,654.1	$	1,363.3
Cash, restricted cash and cash equivalents	—		2.2
Deferred tax assets, net	1.3		—
Other assets	0.9		0.9
Due from subsidiaries	15.4		—
Total assets	$	1,671.7	$	1,366.4

Liabilities and Stockholders' Equity
Junior subordinated debentures	$	27.2	$	14.3
Accrued underwriting expenses and other liabilities	4.8		2.2
Current income taxes payable, net	3.0		—
Due to subsidiaries	—		21.3
Intercompany notes payable	33.2		31.1
Total liabilities	68.2		68.9
Stockholders' equity	1,603.5		1,297.5
Total liabilities and stockholders' equity	$	1,671.7	$	1,366.4

STATEMENTS OF INCOME (LOSS)	Successor				Predecessor
	For the Year Ended		Period from		Period from		For the Year Ended
	December 31, 2024		November 16, 2023 through December 31, 2023		January 1, 2023 through November 15, 2023		December 31, 2022
Revenue:
Net investment expense	$	—	$	(0.1)	$	—	$	—
Total revenue	—		(0.1)		—		—
Expenses:
Interest expense	2.9		0.4		2.3		1.6
Operating expenses	2.2		(1.3)		6.8		(0.6)
Non-operating expenses	(15.2)		2.7		21.3		26.2
Total expenses	(10.1)		1.8		30.4		27.2
(Loss) income before income taxes	10.1		(1.9)		(30.4)		(27.2)
Provision for income taxes	1.7		—		—		—
Net income before equity in earnings of subsidiaries	8.4		(1.9)		(30.4)		(27.2)
Equity in undistributed earnings of subsidiaries (1)	(156.5)		2.8		(180.0)		(148.0)
Net (loss) income	$	(148.1)	$	0.9	$	(210.4)	$	(175.2)
Dividends on preferred stock	10.5		—		10.5		10.5
Net (loss) income attributable to common stockholders	$	(158.6)	$	0.9	$	(220.9)	$	(185.7)

(1) Includes dividend income from consolidated subsidiaries

ARGO GROUP INTERNATIONAL HOLDINGS, INC.

SCHEDULE II

CONDENSED FINANCIAL INFORMATION OF REGISTRANT

(in millions)

	Successor				Predecessor
STATEMENTS OF CASH FLOWS	For the Year Ended		Period from		Period from		For the Year Ended
	December 31, 2024		November 16, 2023 through December 31, 2023		January 1, 2023 through November 15, 2023		December 31, 2022
Cash flows from operating activities:
Net (loss) income	$	(148.1)	$	0.9	$	(210.4)	$	(175.2)
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Amortization and depreciation	—		—		—		1.5
Share-based payments expense	—		—		1.0		2.8
Deferred income tax expense (benefit), net	(1.3)		—		—		—
Loss on disposal of fixed assets	—		—		—		(3.5)
Undistributed earnings of subsidiaries	156.5		(2.8)		180.0		148.0
Change in:
Prepaid assets	—		—		0.2		(1.8)
Accrued expenses	2.4		(8.0)		10.6		6.0
Due to (from) subsidiaries	(7.4)		5.6		22.7		28.8
Income taxes	3.0		—		—		—
Other, net	0.4		(2.2)		5.1		4.7
Cash provided by (used in) operating activities	5.5		(6.5)		9.2		11.3
Cash flows from investing activities:
Change in short-term investments	—		—		(3.8)		12.7
Settlements of foreign currency exchange forward contracts	—		—		2.0		(2.0)
Capital contribution to subsidiaries	(200.0)		—		—		—
Dividend received from subsidiaries	2.8		—		—		33.3
Cash provided by (used in) investing activities	(197.2)		—		(1.8)		44.0
Cash flows from financing activities:
Capital contribution	200.0		—		—		—
Activity under stock incentive plans	—		—		0.7		1.8
Payment of cash dividend to preferred stockholders	(10.5)		—		(10.5)		(10.5)
Payment of cash dividend to common stockholders	—		—		0.3		(43.4)
Cash used in financing activities	189.5		—		(9.5)		(52.1)
Change in cash	(2.2)		(6.5)		(2.1)		3.2
Cash, beginning of period	2.2		8.7		5.2		2.0
Cash, end of period	$	—	$	2.2	$	3.1	$	5.2