OneBeacon Acquires International Bond & Marine Brokerage, Ltd.
OneBeacon Insurance Group, the brand for Intact Financial Corporation's (TSX: IFC) U.S. insurance company subsidiaries, today announced that it has acquired International Bond & Marine Brokerage, Ltd. ("IB&M"), a privately held brokerage specializing in the international trade markets. Through this transaction, OneBeacon expands its owned-brokerage assets and innovatively reshapes its customs bonds market offerings through an end-to-end risk management platform.
Said Mike Seff, Head of Surety North America, "We are excited to welcome IB&M to the OneBeacon and Intact family. Their deep focus on international trade customers and ability to provide risk management solutions spanning customs bonds, cargo, liability and other important insurance coverages speaks to their expertise and track record. We look forward to a seamless transition for all affected brokers and their clients."
Added IB&M President Kevin Tattam, "On behalf of everyone at IB&M, we are very pleased to become part of OneBeacon, one of the leading providers of surety bonds. As a specialty carrier, they understand the value of dedicated expertise serving a specific market segment. This alignment well positions us for expansion and growth going forward."
IB&M will retain its brand and operate as a standalone brokerage, available to serve its clients, agents and brokers' risk management needs through its current select markets, and now additionally through OneBeacon. To learn more about IB&M visit: intlbondmarine.com.
About OneBeacon: OneBeacon Insurance Group is the marketing brand for the insurance company subsidiaries of Intact Insurance Group USA LLC, a member of Intact Financial Corporation (TSX: IFC), the largest provider of property and casualty insurance in Canada, and a leading specialty insurance carrier in North America. Throughout the United States, Intact Insurance Specialty Solutions' underwriting companies offer a broad range of specialty insurance products through independent agencies, regional and national brokers, wholesalers and managing general agencies. Each business is managed by an experienced team of specialty insurance professionals focused on a specific customer group or industry segment, and providing distinct products and tailored coverages and services. Targeted solutions include: group accident and health; commercial and contract surety; entertainment; environmental; excess property; financial institutions; financial services; inland marine; management liability; ocean marine; public entities; technology; and tuition refund.
Coverages for OneBeacon Insurance Group are underwritten by the following companies: Atlantic Specialty Insurance Company, a New York insurer; Homeland Insurance Company of New York, a New York insurer; Homeland Insurance Company of Delaware, a Delaware insurer; OBI America Insurance Company, a Pennsylvania insurer; OBI National Insurance Company, a Pennsylvania insurer; or The Guarantee Company of North America USA, a Michigan insurer. Each of these insurers maintains its principal place of business at 605 Highway 169 N, Plymouth, MN 55441, except The Guarantee Company of North America USA, which is located at One Towne Square, Southfield, MI 48076.