OneBeacon beats with tax boost

White Mountains-owned One Beacon was helped to a significant
earnings beat after receiving a $12.8mn boost from a prior-year tax
settlement.
The carrier reported earnings per share of $0.38, beating Wall
Street's consensus estimate of $0.22 as it benefitted from a
$0.14 per share tax benefit.
Operating income for the quarter was $35.6mn, up from $15mn it
reported for the same period last year.
The tax benefit stemmed from a settlement with the Internal
Revenue Service dating back to an...