Canadian Intact to acquire OneBeacon for $1.7B
OneBeacon Insurance, based in Plymouth and majority owned by New Hampshire-based White Mountains Insurance Group, is being sold to Canadian insurance company Intact Financial Corp in a deal worth $1.7 billion. The combination forms a specialty insurance company with over $1.5 billion in annual premiums. Also, it represents a major expansion by a Canadian player to the US market. The chief of Intact, Charles Brindamour, said OneBeacon was a “strong strategic fit” because of its expertise in commercial and specialty lines of insurance.
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