Argus Group Holdings Limited announced earnings for the six months ended September 30, 2007 of $18.5 million, up 6.8 percent from the corresponding period in the previous year.

Gerald Simons, President & Chief Executive Officer of the Argus Group, comments: “We are pleased to report that the Group’s strategy of focusing on growth by building upon the strong foundations of our core businesses - life, pensions, health and property & casualty insurance - has yielded good results in all areas of our business. This, together with enhanced commission income and acceptable investment returns, especially in light of recent market conditions, has combined to produce record earnings for the six months ended September 30, 2007.

Andy Baker, Chief Executive of the local Argus Insurance Company said: “The overall increases in premiums coupled with our strong results are
very pleasing”.
Andy went on to say: “The local wholly owned subsidiary continues to add to the group’s bottom line, thanks to our well managed and motivated team here in Gibraltar”.
At a recent board meeting held in Gibraltar, members of the main Board of Argus Bermuda, congratulated the local team on the success of the Gibraltar operation, and reiterated how important Argus Europe was to the long-term strategy of the Argus group.

General account assets of the Argus Group at September 30, 2007 totalled $645 million
and segregated funds assets under its control increased to $1.3 billion. The Group now has assets of almost $2 billion under
its administration.