||This article appears to be written like an advertisement. (October 2014)|
Minnetonka, Minnesota (Principal Executive Office)
|Key people||Mike Miller, President & CEO|
OneBeacon Insurance Group, Ltd. is a Bermuda-domiciled holding company that is publicly traded on the New York Stock Exchange under the symbol "OB.” The company’s financial strength is rated “A” (excellent) by A.M. Best., the benchmark for assessing insurers' financial strength.
OneBeacon's underwriting companies offer a range of specialty insurance products sold through independent agencies, regional and national brokers, wholesalers and managing general agencies. Each business is managed by a team of specialty insurance professionals focused on a specific customer group or industry segment, and providing distinct products and tailored coverages and services. OneBeacon's solutions target ocean and inland marine; entertainment, sports and leisure; group accident; crop; public entities; technology; tuition refund; professional liability; environmental; excess property; programs; and commercial surety.
The current CEO and President is Mike Miller.
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.
IPO & Specialty Niche
In 2001, the company had two specialty businesses—International Marine Underwriters and A.W.G. Dewar, ocean marine and tuition refund specialists, respectively. Recognizing the value of its niche business units, OneBeacon began forming additional specialty 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.
OneBeacon Specialty Businesses
Today, OneBeacon features 12 specialty units, and, through its underwriting companies, offers coverages in all 50 states.
The company’s specialty businesses include: A.W.G. Dewar, International Marine Underwriters, OneBeacon Accident Group, OneBeacon Crop Insurance, OneBeacon Entertainment, OneBeacon Environmental, OneBeacon Government Risks, OneBeacon Specialty Property, OneBeacon Professional Insurance, OneBeacon Program Group, OneBeacon Surety Group, and OneBeacon Technology Insurance.