OneBeacon Q4 profits dip as underwriting improves

OneBeacon reported a near-22 percent decline in fourth-quarter
operating profits as investment losses eroded earnings at the White
Mountains-backed group.
Operating income fell to $20.6mn, or $0.22 per share, compared
to the $26.3mn, or $0.28 per share, disclosed a year earlier. The
earnings per share figure exceeded the $0.16 consensus forecast
compiled by Zacks Investment Research.
The company reported a total return on invested assets of -0.2
percent for the period, resulting in net investmen