CANTON, Mass., June 28 /PRNewswire-FirstCall/ -- OneBeacon Insurance Group recently announced the winners of its annual college scholarship program, funded by the OneBeacon Charitable Trust. Twenty high-school seniors received $1,500 scholarships, including sons and daughters of OneBeacon employees and of the company's distribution partners. Recipients were selected based on criteria including academic record, leadership skills and participation in school and community activities.
OneBeacon CEO Mike Miller said, "We are very pleased to support this talented group of young scholars as they begin their college years. Besides their academic achievements, they demonstrated an amazing capacity to contribute to both their high schools and to their communities. All of us at OneBeacon congratulate this year's scholarship winners and wish them well as they embark on very promising futures."
OneBeacon's scholarship program is administered by Scholarship Management Services, a nonprofit scholarship program administrator, and is funded by the OneBeacon Charitable Trust. This marks the eighth year that the program has awarded scholarships.
The 2010 OneBeacon scholarship winners are listed below:
Company (Parent's Employer)
Wells Fargo Insurance Services
University of Texas at Austin
The Arizona Group
University of San Diego
Johns Hopkins University
Berry Insurance Agency
College of the Holy Cross
Wells Fargo Insurance Services
University of Minnesota
William Smith College
Fred C. Church, Inc.
Wells Fargo Insurance Services
Corcoran & Havlin Insurance
Massachusetts Institute of Technology
Carnegie Mellon University
Brown & Brown Insurance
State University of New York at Stony Brook
Rensselaer Polytechnic Institute
InLight Risk Management, LLC
Oklahoma City, OK
Southwestern Oklahoma State University
J. Smith Lanier & Company
Georgia Institute of Technology
University of Virginia
New York University
The OneBeacon Charitable Trust is a tax-exempt private foundation under Section 501(c)(3) of the Internal Revenue Code managed by employees of OneBeacon Insurance Company. OneBeacon Insurance Group, Ltd. is a Bermuda-domiciled holding company that is publicly traded on the New York Stock Exchange under the symbol "OB." OneBeacon Insurance Group's underwriting companies offer a range of insurance products sold through select independent agents, regional and national brokers, and wholesalers. The company's ongoing businesses include OneBeacon Professional Insurance, International Marine Underwriters, Entertainment Brokers International Insurance Services, Specialty Accident and Health, OneBeacon Government Risks, OneBeacon Energy Group, A.W.G. Dewar (tuition refund), collector cars and boats written through Hagerty Insurance Agency, OneBeacon Technology Group, OneBeacon Financial Services, OneBeacon Specialty Property, Property and Inland Marine, and AutoOne.
As one of the oldest property and casualty insurers in the United States, OneBeacon traces its roots to 1831 and the Potomac Fire Insurance Company. Today, OneBeacon's specialty insurance businesses are national in scope while personal lines business is concentrated in the Northeastern United States.
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This 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 OneBeacon's:
- change in book value per share or return on equity;
- business strategy;
- financial and operating targets or plans;
- incurred loss and loss adjustment expenses 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 OneBeacon 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, windstorms, earthquakes, floods, fires, explosions, terrorist attacks or severe winter weather;
- recorded loss and loss adjustment expense reserves subsequently proving to have been inadequate;
- the continued availability and cost of reinsurance coverage;
- 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 agents;
- changes in domestic or foreign laws or regulations, or their interpretation, applicable to OneBeacon, its competitors, its agents or its customers;
- an economic downturn or other economic conditions adversely affecting its financial position including stock market volatility;
- actions taken by ratings agencies from time to time, such as financial strength or credit ratings downgrades or placing ratings on negative watch;
- the risks that are described from time to time in OneBeacon's filings with the Securities and Exchange Commission, including but not limited to OneBeacon's Annual Report on the Form 10-K for the fiscal year ended December 31, 2009 filed February 26, 2010.
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 OneBeacon will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, OneBeacon or its business or operations. OneBeacon assumes no obligation to update publicly any such forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE OneBeacon Insurance Group, Ltd.