White Mountains falls to net loss on OneBeacon legacy deal
Bermudian insurance group White Mountains was carried to a loss in the third quarter by a charge taken on its $2.2bn run-off deal with Armour Risk.
The Ray Barrette-led (re)insurer posted a net loss of $11.8mn as a result of a $100.5mn charge attached to its deal to divest itself of its OneBeacon liabilities. For the same period last year the firm reported a net loss of $26.8mn.
The exceptional charge was disclosed earlier this month when it was announced...
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