Valuation And Qualifying Accounts

12 Months Ended

Dec. 31, 2011

Valuation And Qualifying Accounts

ARGO GROUP INTERNATIONAL HOLDINGS, LTD.

SCHEDULE V

VALUATION AND QUALIFYING ACCOUNTS

(in millions)

	Balance at		Charged to			Capital		Net Operating		Charged to				Balance
	Beginning		Cost and			Loss		Loss		Other				at End of
	of Period		Expense			Carryforward		Carryforward		Accounts		Deductions		Period
Year ended December 31, 2011
Deducted from assets:
Valuation allowance for deferred tax asset	$	49.6	$	(1.0	)	$	0.0	$	0.0	$	1.8	$	0.0	$	50.4
Year ended December 31, 2010
Deducted from assets:
Valuation allowance for deferred tax asset	$	49.5	$	(1.0	)	$	0.0	$	1.0	$	0.1	$	0.0	$	49.6
Year ended December 31, 2009
Deducted from assets:
Valuation allowance for deferred tax asset	$	47.0	$	(1.0	)	$	2.5	$	1.0	$	0.0	$	0.0	$	49.5