OneBeacon Opens Property E&S Line
NU Online News Service, May 7, 4:11 p.m. EDT?OneBeacon Insurance Group, LLC, said it is entering the excess and surplus lines property business by opening a Specialty Property division.[@@]
The unit, to be led by Rick Burke, will write coverage "tailored to specific business-class and market conditions." The Boston-based insurer said the new E&S division plans to begin writing business this month through its main office in San Francisco and three other offices in northern New Jersey, Dallas, and Lenesz, Kansas.
Distribution will be through surplus lines wholesalers.
Details on underwriting requirements and risk appetite were not immediately available.
OneBeacon, a subsidiary of White Mountains Insurance Group, Ltd., based in Hamilton, Bermuda, has developed several specialty operations, including International Marine Underwriters, OneBeacon Professional Partners and National Farmers Union Insurance.
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