OneBeacon Acquires Renewal Rights for Brit Global Specialty's Admitted First Dollar Package Public Entity Portfolio
Sep 16, 2020, 11:00 ET
PLYMOUTH, Minn., Sept. 16, 2020 /PRNewswire/ -- OneBeacon Insurance Group, the brand for Intact Financial Corporation's (TSX: IFC) U.S. insurance company subsidiaries, today announced that it has acquired the renewal rights to Brit Global Specialty USA's admitted 'First Dollar Package' Public Entity portfolio. Additionally, Sharon Wright has joined OneBeacon and will lead the portfolio transition and expansion.
Said Bradley York, President of OneBeacon Government Risks, "Through this agreement, we strengthen OneBeacon's public entity capabilities with a complementary portfolio that broadens our network and expertise into smaller local governments. We're also excited to welcome Sharon to OneBeacon. Her deep expertise in the public entity segment parallels our approach and I look forward to working with her."
Said Wright, "I am excited to join OneBeacon and the Government Risks team. I look forward to building upon a strong and established public entity portfolio and continuing to grow and service a business and specific market segment that I know well."
The First Dollar portfolio acquired in the transaction provides admitted coverage for cities, towns, villages, boroughs, water-sewer utilities and other special service districts in 14 states across the U.S. Not included in the transaction is Brit Global Specialty USA's 'Alternative Risks' business, its longstanding core E&S offering to public and nonprofit clients.
In the U.S. OneBeacon offers public entity solutions including property, casualty and professional liability comprised of law enforcement, public officials and employment practices liability. In Canada, coverage is available through Frank Cowan Company, a Managing General Agent and a leading provider of specialized insurance programs. Frank Cowan Company is a wholly owned subsidiary of Intact Financial Corporation. For more information about our North American public entity capabilities, visit onebeacongov.com and frankcowan.com.
About OneBeacon: OneBeacon Insurance Group is the marketing brand for the insurance company subsidiaries of Intact Insurance Group USA LLC, a member of Intact Financial Corporation (TSX: IFC), the largest provider of property and casualty insurance in Canada, and a leading specialty insurance carrier in North America. Throughout the United States, Intact Insurance Specialty Solutions' underwriting companies offer a broad range of specialty insurance products through independent agencies, regional and national brokers, wholesalers and managing general agencies. Each business is managed by an experienced team of specialty insurance professionals focused on a specific customer group or industry segment, and providing distinct products and tailored coverages and services. Targeted solutions include group accident and health; commercial and contract surety; entertainment; environmental; excess property; financial institutions; financial services; inland marine; management liability; ocean marine; public entities; technology; and tuition refund.
Coverages for OneBeacon Insurance Group are underwritten by the following companies: Atlantic Specialty Insurance Company, a New York insurer; Homeland Insurance Company of New York, a New York insurer; Homeland Insurance Company of Delaware, a Delaware insurer; OBI America Insurance Company, a Pennsylvania insurer; OBI National Insurance Company, a Pennsylvania insurer; or The Guarantee Company of North America USA, a Michigan insurer. Each of these insurers maintains its principal place of business at 605 Highway 169 N, Plymouth, MN 55441, except The Guarantee Company of North America USA, which is located at One Towne Square, Southfield, MI 48076.
For further information about products and services visit: onebeacon.com. For information about Intact Financial Corporation visit: intactfc.com.
SOURCE OneBeacon Insurance Group, Ltd.
