Hamilton, Bermuda - 27th July, 1998: The Argus Insurance Company Limited today announced that on July 23rd, 1998 Gerald D.E. Simons, the Chief Executive Officer of the Argus Group, was elected by the shareholders as a director of the company. The eleven incumbent directors were all re-elected.
Following enabling changes to the Company's Bye-Laws, approved at the recent Annual General Meeting (AGM) of the company, the directors then appointed the following officers:-
Chairman: James A.C. King
Deputy Chairman: J. Christopher Astwood
President & Chief Executive Officer: Gerald D.E. Simons
Secretary & Treasurer:David C.Carruthers
Non-executive officers assumed the titles of "Chairman" and "Deputy Chairman" rather than "President" and "Vice President" as had previously been the norm. Gerald Simons, the sole executive director, became President and Chief Executive Officer.
Also at the AGM the shareholders approved the directors' recommendation that the name of the company be changed by the removal of the word "The". Registration of this name change is now underway and it is anticipated that the name will formally change to "Argus Insurance Company Limited" on August 31, 1998.