Private Equity Investors Pelican Ventures, J.C. Flowers to Buy Ariel Re from Argo Group Ariel Re to be acquired from Argo by private equity. Mather to return as CEO Argo Group Announces Agreement to Sell Ariel Re to Pelican Ventures and J.C. Flowers Ariel Re ownership change a boost for Bermuda Ariel Re to be acquired from Argo by private equity. Mather to return as CEO Ariel Re has joined the Association of Bermuda Insurers and Reinsurers (ABIR) and Ryan Mather has also joined the board