OneBeacon Acquires Renewal Rights for Brit Global Specialty’s Admitted First Dollar Package Public Entity Portfolio
PLYMOUTH, Minn. September 16, 2020 /PR Newswire/ – OneBeacon Insurance Group, the brand for Intact Financial Corporation’s (TSX: IFC) U.S. insurance company subsidiaries, today announced that it has acquired the renewal rights to Brit Global Specialty USA’s admitted ‘First Dollar Package’ Public Entity portfolio. Additionally, Sharon Wright has joined OneBeacon and will lead the portfolio transition and expansion.
Said Bradley York, President of OneBeacon Government Risks, “Through this agreement, we strengthen OneBeacon’s public entity capabilities with a complementary portfolio that broadens our network and expertise into smaller local governments. We’re also excited to welcome Sharon to OneBeacon. Her deep expertise in the public entity segment parallels our approach and I look forward to working with her.”
Said Wright, “I am excited to join OneBeacon and the Government Risks team. I look forward to building upon a strong and established public entity portfolio and continuing to grow and service a business and specific market segment that I know well.”
The First Dollar portfolio acquired in the transaction provides admitted coverage for cities, towns, villages, boroughs, water-sewer utilities and other special service districts in 14 states across the U.S. Not included in the transaction is Brit Global Specialty USA’s ‘Alternative Risks’ business, its longstanding core E&S offering to public and nonprofit clients.
In the U.S. OneBeacon offers public entity solutions including property, casualty and professional liability comprised of law enforcement, public officials and employment practices liability. In Canada, coverage is available through Frank Cowan Company, a Managing General Agent and a leading provider of specialized insurance programs. Frank Cowan Company is a wholly owned subsidiary of Intact Financial Corporation. For more information about our North American public entity capabilities, visit onebeacongov.com and frankcowan.com.