OneBeacon Buys Atlantic Mutual Books; Atlantic Exits Commercial Biz
OneBeacon Insurance Company, a subsidiary of Hamilton, Bermuda-based White Mountains Insurance Group, Ltd., is acquiring New York City-based insurer Atlantic Mutuals Atlantic Specialty Insurance Company and the renewal rights to the carriers commercial insurance business, including the unearned premiums on the books.
The Dec. 5 announcement by the two parities said that the overall gross written premium for this book totals approximately $450 million.
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