Argo Group earned net income of $143.2 million for last year compared to $52.3 million recorded for 2012.

Gross written premiums for the year totalled $1.9 billion — 8.2 percent up on the $142.7 million the year before.

Estimated pre-tax catastrophe losses also fell sharply, totalling $22.7 million for 2013 compared to $69.8 million the year before.

Mark Watson, chairman of the international insurer and reinsurer, said: “Strong fourth-quarter results capped off a year of solid progress.

“Over the year we achieved profitable top line growth and generated improved underwriting margins for all our businesses.

“We find ourselves well positioned to benefit from these themes as we enter the new year.”

During 2013, the firm repurchased 1.1 million of its shares for $45.1 million at an average price of $41.04 per share.

Cash and investments at year end totalled $4.2 billion, with a net pre-tax unrealised gain of around $243.2 million.