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Press release from Business Wire

Argo Group's Board Authorizes $150 Million Share Repurchase Program, Declares Quarterly Cash Dividend

Friday, February 18, 2011

Argo Group's Board Authorizes $150 Million Share Repurchase Program, Declares Quarterly Cash Dividend09:44 EST Friday, February 18, 2011 HAMILTON, Bermuda (Business Wire) -- Argo Group International Holdings, Ltd. (NasdaqGS: AGII), an international underwriter of specialty insurance and reinsurance products, announced today its board of directors has authorized the company to repurchase $150 million of Argo Group common stock. The new share repurchase authorization supersedes the previous authorization announced on Nov. 13, 2007. Company officials also said its board of directors had declared a quarterly cash dividend of 12 cents per share on the company's common stock. The dividend will be paid on Tuesday, March 15, 2011, to shareholders of record on Tuesday, March 1, 2011. Since 2007, when the board approved the previous share repurchase authorization, Argo Group has repurchased approximately $125 million or 3.6 million shares of its outstanding common stock. Shares will be repurchased from time to time under the new authorization in open market transactions or privately negotiated transactions at Argo Group's discretion, subject to market conditions and other factors. ABOUT ARGO GROUP INTERNATIONAL HOLDINGS, LTD. Argo Group International Holdings, Ltd. (NasdaqGS: AGII) is an international underwriter of specialty insurance and reinsurance products in the property and casualty market. Argo Group offers a full line of high-quality products and services designed to meet the unique coverage and claims handling needs of businesses in four primary segments: Excess & Surplus Lines, Commercial Specialty, Reinsurance, and International Specialty. Argo's insurance subsidiaries are A. M. Best-rated 'A' (Excellent) (third highest rating out of 16 rating classifications) with a stable outlook, and Argo's U.S. insurance subsidiaries are Standard and Poor's-rated 'A-' (Strong) with a stable outlook. More information on Argo Group and its subsidiaries is available at www.argolimited.com. FORWARD-LOOKING STATEMENTS This press release contains certain statements that are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are qualified by the inherent risks and uncertainties surrounding future expectations generally and also may differ materially from actual future experience involving any one or more of such statements. For a more detailed discussion of such risks and uncertainties, see Argo Group's filings with the SEC. The inclusion of a forward-looking statement herein should not be regarded as a representation by Argo Group that Argo Group's objectives will be achieved. Argo Group undertakes no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise. Argo Group International Holdings, Ltd.Michael Russell, 441-296-5858Director of Investor Relations