Hamilton, Bermuda-based insurer White Mountains Insurance Group,Ltd., reported its net income rose $228 million in the thirdquarter, after suffering a loss for the same period last year.

The company reported on Thursday that net income rose from aloss of $66 million, a loss of $6.16 per share last year, to $162million, or $15.01 a share in the third period–a more than 300percent increase. Revenues were almost flat, increasing less than$9 million, from $1.178 billion to $1.186 billion.

For the nine months, net income is up 46 percent, or $117million, from $257 million, or $23.73 a share, to $374 million, or$34.61 a share. Revenues were down 4 percent, or $129 million, from$3.57 billion to $3.44 billion.

Among the companies in the White Mountains group are OneBeacon,White Mountain Re and Esurance.

“OneBeacon had another excellent quarter, with a combined ratioof 94 percent,” said Steve Fass, chief executive officer of WhiteMountains. “White Mountain Re, aided by favorable weather, also hada strong quarter, with an 89 percent combined ratio. Esurancecontinues to grow quickly while keeping its loss ratio on target.While our fixed income and equity returns lagged their benchmarksin the quarter, absolute returns were solid, and our investmentperformance for the first nine months remains strong.”

Esurance had a combined ratio of 106 percent for the threemonths and 107 percent for the nine months of 2006, consistent withlast year. White Mountain's combined ratio, at 89 percent in thequarter, stands at 108 percent for the nine months, compared with116 percent for the nine months last year.

For the nine months, OneBeacon's combined ratio was 96 percent,compared with 99 percent last year.