OneBeacon Employee Receives Citizens Award from City of Lawrence

Theresa Flaherty Recognized for Fighting Insurance Fraud

BOSTON, Nov. 3 -- Theresa Flaherty, head of the New England Special Investigations Unit (SIU) of OneBeacon Insurance, was recognized Tuesday by the city of Lawrence, Mass., and Mayor Michael Sullivan for her work and that of OneBeacon to combat insurance fraud.

After a passenger was killed in an allegedly staged auto accident in 2003, Lawrence officials began a major initiative to fight this crime. OneBeacon supports these efforts by supplying evidence to the Lawrence Police Department, the Insurance Fraud Bureau, the Essex County District Attorney's Office and other investigators. In addition, the company has donated vehicles and digital cameras to the police department, and trained officers in how to document suspicious accidents at the scene.

OneBeacon also partnered with Amica Mutual Insurance in developing a training program for several Massachusetts police departments that covered staged accidents, stolen motor vehicles and a brief overview of the Massachusetts auto insurance policy.

"We're very pleased that the city of Lawrence has recognized the contributions that Theresa, and by extension our New England SIU, have made in fighting this problem," said Peter Vitale, Director of OneBeacon's Special Investigations Unit. "Insurance fraud affects all of us in terms of higher taxes and insurance premiums and OneBeacon is committed to reducing its impact throughout Massachusetts."

Headquartered in Boston, Massachusetts, OneBeacon Insurance Group offers a wide range of specialty, personal and commercial insurance products and services sold primarily through select independent agents. OneBeacon is one of the oldest property and casualty insurers in the United States, tracing its roots to 1831 and the Potomac Fire Insurance Company. The Company's specialty businesses provide customized coverages to certain niche markets including ocean marine, professional liability and agribusiness, among others. OneBeacon serves personal insurance customers and small-to-midsized businesses through a variety of highly segmented products.

OneBeacon Insurance Group is wholly owned by White Mountains Insurance Group, Ltd. of Hamilton, Bermuda. White Mountains' principal businesses are conducted through its subsidiaries and affiliates in the business of property- casualty insurance and reinsurance. The company is publicly traded on the New York Stock Exchange and the Bermuda Stock Exchange under the symbol "WTM."

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

The press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included or referenced in this release which address activities, events or developments which we expect or anticipate will or may occur in the future are forward-looking statements. The words "will," "believe," "intend," "expect," "anticipate," "project," "estimate," "predict" and similar expressions are also intended to identify forward-looking statements. These forward-looking statements include, among others, statements with respect to White Mountains':

  * growth in book value per share or return on equity;
  * business strategy;
  * financial and operating targets or plans;
  * incurred losses and the adequacy of its loss and loss adjustment expense
    reserves and related reinsurance;
  * projections of revenues, income (or loss), earnings (or loss) per share,
    dividends, market share or other financial forecasts;
  * expansion and growth of our business and operations; and
  * future capital expenditures.

These statements are based on certain assumptions and analyses made by White Mountains in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors believed to be appropriate in the circumstances. However, whether actual results and developments will conform to our expectations and predictions is subject to a number of risks and uncertainties that could cause actual results to differ materially from expectations, including:

  * claims arising from catastrophic events, such as hurricanes,
    earthquakes, floods or terrorist attacks;
  * the continued availability of capital and financing;
  * general economic, market or business conditions;
  * business opportunities (or lack thereof) that may be presented to it and
    pursued;
  * competitive forces, including the conduct of other property and casualty
    insurers and reinsurers;
  * changes in domestic or foreign laws or regulations, or their
    interpretation, applicable to White Mountains, its competitors or its
    clients;
  * an economic downturn or other economic conditions adversely affecting
    its financial position;
  * recorded loss reserves subsequently proving to have been inadequate;
  * other factors, most of which are beyond White Mountains' control.

Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by White Mountains will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, White Mountains or its business or operations. White Mountains assumes no obligation to update publicly any such forward-looking statements, whether as a result of new information, future events or otherwise.