White Mountains Insurance Group Ltd. swung to a profit in the latest quarter as its OneBeacon unit had another excellent quarter, with a combined ratio of 94 percent.

Its White Mountains Re unit, aided by favourable weather, also had a strong quarter, with an 89 percent combined ratio.

Net income totalled $162.1 million or $15.01 a share, versus a loss of $66.3 million or $6.16 a share in the third quarter of 2005.

Adjusted comprehensive net income for the third quarter of 2006 was $211 million, compared to adjusted comprehensive net loss of $131 million in the third quarter of 2005.

White Mountains, a Bermuda-domiciled financial-services holding company, reported third-quarter revenue of $1.19 billion versus $1.18 billion. — Dow Jones