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Fitch: OneBeacon view to stable
Fitch Ratings said it affirmed the BBB+ issuer default rating of OneBeacon Insurance Group, Ltd.'s holding company and A insurer financial strength rating of its operating subsidiaries.
The outlook was revised to stable from negative.
The agency took no rating action on the BBB+ issuer default rating of White Mountains Insurance Group, Ltd. (White Mountains). OneBeacon is 75.5% owned by White Mountains.
Fitch said the outlook revision was driven by the company's improved reserve experience and GAAP calendar year combined ratio for full-year 2015. Unfavorable reserve experience that contributed to deterioration in full year 2014 profits prompted the previous revision.
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