OneBeacon

OneBeacon Insurance Group, Ltd. ("OneBeacon") is a subsidiary of Intact Financial Corporation (TSX: IFC). OneBeacon’s underwriting companies offer speciality insurance products sold through independent agencies, regional and national brokers, wholesalers and managing general agencies.

OneBeacon Insurance Group
IndustryInsurance
SuccessorIntact Financial Corporation
Founded2001
Headquarters
Hamilton, Bermuda
Plymouth, Minnesota (Principal Executive Office)
ServicesSpecialty Insurance
Number of employees
Approximately 1,200
Websitewww.onebeacon.com

History

2017- OneBeacon Acquired by Intact Financial Corporation

On September 28, 2017, OneBeacon Insurance Group, Ltd. was acquired by Intact Financial Corporation. The merger created a leading speciality insurer in North America, combining Intact’s leading commercial lines track record, deep data, claims and digital expertise with OneBeacon’s outstanding team and speciality lines capabilities.[1]

2006- IPO & Specialty Niche

In 2001, the company had two speciality businesses—International Marine Underwriters and A.W.G. Dewar, ocean marine and tuition refund specialists, respectively. OneBeacon began forming additional speciality segments, starting with OneBeacon Professional Insurance (OBPI) in 2002. In 2006, the company held its initial public offering (IPO), and began a full-specialization approach, starting new segments through teams of people or business acquisitions. Between 2009 and 2010, the company sold its nonspecialty commercial lines renewal rights and personal lines.

2001- White Mountains/CGU

On June 1, 2001, White Mountains Insurance Group, Ltd. acquired CGU’s U.S. operations and the company was renamed OneBeacon Insurance Group. Its name is derived from the company’s former “home town” address of 1 Beacon Street in Boston.[2]

OneBeacon Specialty Businesses

Today, OneBeacon features multiple speciality units, and, through its underwriting companies, offers coverages in all 50 states. The company’s speciality businesses include A.W.G. Dewar, International Marine Underwriters, OneBeacon Accident & Health, OneBeacon Entertainment, OneBeacon Environmental, OneBeacon Financial Institutions, OneBeacon Financial Services, OneBeacon Government Risks, OneBeacon Healthcare Group, OneBeacon Management Liability, OneBeacon Specialty Property, OneBeacon Surety Group and OneBeacon Technology Insurance.

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References
  1. "Canada's Intact Financial Completes OneBeacon Acquisition; Vows to Grow Specialty Insurer". Insurance Journal. 2017-09-29. Retrieved 2020-03-16.
  2. Journal, Daniel Golden Staff Reporter of The Wall Street (2000-09-26). "White Mountains to Buy CGNU Unit With Some Help From Warren Buffett". Wall Street Journal. ISSN 0099-9660. Retrieved 2020-03-16.
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