Argonaut Unveils Hurricane Claims Exposure

October 20, 2004

San Antonio-based Argonaut Group Inc. has reported that, based on claims information currently available, the combined effect of Hurricanes Charley, Frances, Ivan and Jeanne is estimated to result in pre-tax losses, net of reinsurance and including reinsurance reinstatements, of $18.0 million to $22.0 million, which will be disclosed in the company’s 2004 third quarter financial results scheduled for release next week.

“Our claims teams have been working diligently in each state affected by this unusual sequence of storms to service the needs of our policyholders,” said Mark Watson III, president and CEO of Argonaut Group.

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