Brookfield Reinsurance completes acquisition of Argo Group

Brookfield Reinsurance, the reinsurance subsidiary of the Canadian financial group Brookfield, has finalized the acquisition of the Bermudan insurer Argo Group for 1.1 billion USD.

Under the terms of this transaction, Brookfield Reinsurance has acquired the non-life insurer's entire stake at a price of 30 USD per share.

Following this merger, Jessica Snyder has been appointed CEO of Argo.