Hamilton, Bermuda-based OneBeacon reported net income dropped 355 percent in the third quarter after its investment portfolio sagged.
"Clearly, this was a challenging quarter driven primarily by our investment results," said Mile Miller, chief executive officer of OneBeacon in a statement.
"Our equities performed worse than the S&P 500 for the quarter, although they outperformed the benchmark through nine months. Our fixed income securities were also down in the quarter, resulting in a slight decline for the year," he added
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