OneBeacon buys public entity renewal rights from Brit
US-based OneBeacon Insurance Group, a subsidiary of Intact Financial, has acquired the renewal rights to Brit Global Specialty USA's admitted 'First Dollar Package' public entity portfolio.
As part of the deal, Sharon Wright has joined OneBeacon and will lead the portfolio transition and expansion.
The acquired portfolio provides admitted coverage for cities, towns, villages, boroughs, water-sewer utilities and other special service districts in 14 states across the US.
Brit Global Specialty USA's 'Alternative Risks' business, its longstanding core E&S offering to public and nonprofit clients, is not included in the transaction.
In the US OneBeacon offers public entity solutions including property, casualty and professional liability comprised of law enforcement, public officials and employment practices liability.
Bradley York, president of OneBeacon Government Risks, said: "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."
Wright added: "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."
