NU Online News Service, July 30, 3:15 p.m. EDT
Hamilton, Bermuda-based insurer OneBeacon reported net income dropped $125 million as a combination of insured and investment losses and a drop in written premium took a toll on earnings.
The specialty insurer reported net income of $9 million, or 9 cents a share for the second quarter, compared to $134 million, or $1.35 a share for the same period last year. Revenues dropped 33 percent, or $218 million, to $437 million during the period.
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