Highlights

• Adds attractive surety business and expertise on both sides of the border
• Enhances specialty lines with public entity capabilities and adds an MGA to the platform
• Expands Intact's personal lines offering in Canada with high net worth products
• Delivers a return on capital above Intact's threshold and immediate accretion to NOIPS
• Strong financial position maintained, with over $1 billion of capital margin after closing

Highlights

• Net operating income per share increased 4% to $1.44, with strong net investment income and distribution results
• Strong premium growth of 8% was fuelled by improving market conditions, with strong growth in commercial lines across North America and accelerating growth in personal lines
• Combined ratio of 97.0% reflects strong underlying performance in personal auto offset by 3.7 points from an increase in reserves for prior years; solid results in commercial lines in Canada and the U.S.
• Strong financial position with $1.3 billion of total capital margin and operating ROE of 12%

OneBeacon Insurance Group has recently awarded sixteen $2,000 college scholarships: eight to the children of OneBeacon employees and eight to children of the company’s distribution partners. Recipients were selected based on criteria such as academic performance, leadership roles and participation in school and community activities.

James Hamilton has joined OneBeacon Financial Institutions, a member of OneBeacon Insurance Group, as Vice President overseeing regional operations, and contributing to the management of the company’s public bank and insurance company portfolio. Hamilton reports to Kevin Koehler, President of OneBeacon Financial Institutions.

International Marine Underwriters (IMU), a member of OneBeacon Insurance Group, has introduced an enhanced Ocean Cargo policy designed to address the needs of an increasingly global ocean marine market and enable customers to easily review coverage details on a redesigned form.

Highlights

• Net operating income per share of $0.73 was impacted by severe winter weather
• Premiums grew 6%, driven by rate increases across our Canadian businesses in hardening market conditions, and strong new business growth in U.S. commercial
• Combined ratio of 101.5% reflects the impact of elevated weather losses in Canada while underlying performance improved across the business; U.S. profitability improvement plans are on track with a combined ratio of 94.0%
• Strong financial position with $1.4 billion of total capital margin and operating ROE of 11.9%

PLYMOUTH, Minn. (May 2, 2019) -- OneBeacon Insurance Group, a member of Intact Financial Corporation (TX: IFC), announced that Joe Fitzgerald has been appointed Chief Underwriting Officer of North American Entertainment, in addition to his current role as President of the U.S. Entertainment business.

AM Best has upgraded the Financial Strength Rating (FSR) to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “aa-” from “a+” of Atlantic Specialty Insurance Company (Atlantic Specialty) (New York, NY) and its subsidiaries (formerly known as OneBeacon Insurance Group).

• Net operating income per share up 19% to $1.93 in Q4-2018 driven by solid operating results
• Premiums grew 4% in the quarter and 16% for the full year fuelled by commercial lines across North America
• Strong combined ratio of 91.7% in Q4-2018 with significant improvement in personal auto
• Full year NOIPS of $5.74 drove Operating ROE of 12.1%, with over $1.3 billion of total capital margin
• Quarterly dividend increased by 9% to $0.76 per common share

Nelson Kefauver has joined OneBeacon as President of its Management Liability business unit, reporting to Executive Vice President Paul Brehm. In his new role, Kefauver will lead a specialty underwriting team focused on providing management liability solutions targeting a broad range of not‐for‐profit organizations and private for‐profit companies throughout the U.S.