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.

• Net operating income per share of $1.62, driven by a solid combined ratio of 93.8% across North America and strong net investment income
• Premiums grew 23% fuelled by OneBeacon and strong organic growth in commercial lines
• Combined ratio of 93.9% in Canada with significant improvement in personal auto, and solid OneBeacon results at 93.5%
• Operating ROE of 11.6% and a 6% increase in book value per share over the last twelve months, with $1.2 billion of total capital margin

International Marine Underwriters (IMU) has expanded its product offering with information risk coverage to address a broad range of cyber incidents including data breach, threat of intrusion or interference with computer systems, damage to data and systems from cyber-attack and cyber-related litigation.

OneBeacon Management Liability has introduced new Management Liability primary policy forms that deliver more comprehensive coverage to a broad range of organizations. The modular policy approach is designed to help minimize gaps in coverage, while providing flexibility to tailor solutions based on each client’s unique exposures.

OneBeacon Insurance Group awarded sixteen $2,000 college scholarships: eight to OneBeacon employees’ children 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.

OneBeacon Surety Group announced changes to the roles and responsibilities of members of its U.S. leadership team. In addition, it is now offering up to $250,000,000 in aggregate surety bond capacity for qualifying clients.