OneBeacon Insurance Group has sold the renewal rights to its non-specialty commercial lines business to The Hanover Insurance Group Inc. The transaction includes small commercial accounts and the non-specialty portion of the middlemarket business. The transaction will be effective beginning January 1, 2010.

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Direct premiums for the affected book total approximately $490 million. OneBeacon will receive $23.25 million plus 10 percent for premiums renewed above $200 million. Specialty and personal lines are not affected. In addition, OneBeacon will keep its technology, financial services, excess property and property inland marine commercial segments.

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"We are pleased that they will be offering jobs to many of our talented commercial lines employees," Mike Miller said, CEO of OneBeacon. "Both organizations are committed to ensuring a seamless transition process for affected agents and policyholders. OneBeacon will continue to service its in-force book of business and related claims."

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