Argo Group Reports Q4 Net Income of $47M
Bermuda-based Argo Group International Holdings, Ltd. announced financial results for the three and twelve months ended Dec. 31, 2013.
Net income was $47.8 million or $1.74 per diluted share compared to a net loss of $4.7 million or $0.17 per diluted share in the fourth quarter of 2012.
After-tax operating income was $22.6 million or $0.82 per diluted share compared to an operating loss of $5.9 million or $0.21 per diluted share in the fourth quarter of 2012.
“Strong fourth quarter results capped off a year of solid progress,” said Argo Group CEO Mark E. Watson III. “Over the year, we achieved profitable top line growth and generated improved underwriting margins in all our businesses. We find ourselves well positioned to benefit from these themes as we enter the new year.”
