Canadian Insurer Purchases OneBeacon for $1.7 Billion

Intact Financial Corp., a Canadian property and casualty insurer, has acquired OneBeacon Insurance Group, a Bermuda-domiciled company whose holdings do business in the U.S., for $1.7 billion, OneBeacon announced last month. OneBeacon's holdings include the property and casualty insurers OneBeacon Specialty Insurance Co. and OBI National Insurance Co. The company's workers' compensation unit is led by Cindy Van Eyll. OneBeacon was formed in 2001 by White Mountains Insurance Group, a carrier founded in 1980 that moved from Delaware to Bermuda in 1999. One of six carriers making the...