Argo has published its latest forecasts for the 2010 and 2011 years which are unchanged from Q1, namely:-

2010: (17.5)% to (7.5)%
2011: (8.0)% to (0.0)%

Argo informs in its overview of 7^th August concerning market conditions “Improvements in the property market moderated as the quarter increased. While we recorded a positive rate change of over 6% for the first quarter, rate improvements slowed to about 3% in June. Aerospace rates continue at levels which do not incent us to increase this book of business. Marine and Energy rates are largely unchanged and our Liability business on average is seeing slight rate reductions. “

They note that their estimates for the Japanese earthquake and Thai flood losses have reduced during Q2. As Q2 was catastrophe free Argo has been able to reduce its ultimate catastrophe loss projections for the 2011 and 2012 years of account.