MINNETONKA, Minn., July 31, 2015 /PRNewswire/ -- OneBeacon Insurance Group (NYSE: OB) has exited the crop insurance business due to the sale of its exclusive managing general agency, Climate Crop Insurance Agency, to AmTrust Financial Services, Inc. (NASDAQ: AFSI), ("AmTrust"). The company's existing crop insurance business has been transferred to AmTrust, including policyholder servicing.
OneBeacon President and CEO Mike Miller said, "We are committed to ensuring a smooth transfer for both our policyholders and for the Climate crop insurance business team. We have terminated our relationship with The Climate Corporation and have withdrawn our Plan of Operations with the U.S. Department of Agriculture's Risk Management Agency for the 2016 crop year. "
About OneBeacon: OneBeacon Insurance Group, Ltd. is a Bermuda-domiciled holding company that is publicly traded on the New York Stock Exchange under the symbol "OB." 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 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. OneBeacon's solutions target group accident; commercial surety; design professionals; entertainment; environmental; excess property; financial services; healthcare; management liability; ocean and inland marine; programs; public entities; technology; and tuition refund. For further information about our products and services visit: www.onebeacon.com and to remain up to date on OneBeacon's news, follow us on Twitter @OneBeaconIns or visit our online newsroom: www.onebeacon.com/newsroom.
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SOURCE OneBeacon Insurance Group, Ltd.
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