White Mountains Insurance Group Ltd. posted net income of $92million for the first quarter of 2007, compared with $96 millionfor the year-ago period.

Chairman Ray Barrette termed the results “okay” and said that“once again, superior investment results drove our book valuegrowth.”

The Bermuda-based insurance group noted that book value pershare of $415 represented a 20 percent increase for the past 12months.

Net investment income for the first quarter rose to $118 millionfrom $99 million, primarily as a result of a larger invested assetbase.

White Mountain subsidiaries' results included:

o One Beacon's pre-tax income nearly doubled to $87 million from$48 million in the same year-ago period. The combined ratio of 98was a one-point improvement.

o White Mountains Re's pre-tax income declined to $58 millionfrom $84 million in the comparable year ago period, while thecombined ratio rose to 99 from 88.

o Esurance's pre-tax loss for the first quarter rose to $9million compared with $4 million in the same year-ago period, whilethe combined ratio increased one point to 111.