Hamilton, Bermuda-based insurer White Mountains Insurance Group, Ltd., reported its net income rose $228 million in the third quarter, after suffering a loss for the same period last year.
The company reported on Thursday that net income rose from a loss of $66 million, a loss of $6.16 per share last year, to $162 million, or $15.01 a share in the third period–a more than 300 percent 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 $117 million, 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.
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