BUSINESS ANALYSIS DECADAL
: Argonaut Group, Inc. is a holding company whose subsidiaries are primarily engaged in the underwriting, selling, and servicing of workers compensation and other lines of property-casualty insurance. For the three months ended 3/31/00, revenues rose 15% to $52.8M. Net loss totaled $49M vs. an income of $9.5M. Revenues reflect increased gains on sale of investments. Higher losses reflects increased losses and loss adjustment expenses.