Navigation Links
OneBeacon Appoints Southern Marine & Aviation Inc.
Date:11/26/2007

Managing General Agent will handle marine cargo business for International

Marine Underwriters

CANTON, Mass., Nov. 26 /PRNewswire-FirstCall/ -- OneBeacon Insurance Group announced today that it has signed an agreement with Southern Marine & Aviation Inc., to represent its International Marine Underwriters (IMU) division. Under the agreement, IMU will assume the new and renewal business written under a primary marine cargo program managed by Southern Marine & Aviation, effective January 1, 2008.

Based in Houston, Southern Marine & Aviation is a marine-specialty Managing General Agent with more than 50 years of experience and expertise in writing commercial marine and cargo insurance. It is a division of Crump Insurance Services, Inc., and a recognized leader in the underwriting of petroleum and bulk liquid cargo insurance. Southern Marine & Aviation has the capability to write cargo interests up to $50 million.

"This partnership with Southern Marine & Aviation will provide synergies and complement the other lines of business we write," said Robert Gallagher, President of International Marine Underwriters. "In addition, combining the two books of ocean cargo business will position IMU as a market leader in the U.S."

International Marine Underwriters is a division of OneBeacon Insurance Group, which is rated A (excellent) by A.M. Best. IMU is headquartered in New York City and offers ocean marine solutions for hull, marine liabilities, and private-pleasure yachts, as well as ocean cargo.

OneBeacon Insurance Group's operating subsidiaries offer a range of specialty and segmented commercial and personal insurance products sold primarily through select independent agents. As one of the oldest property and casualty insurers in the United States, OneBeacon traces its roots to 1831 and the Potomac Fire Insurance Company. Today, OneBeacon's specialty insurance products are available countrywide, and commercial and personal lines are offered in select geographic territories.

OneBeacon's principal business office is in Canton, Massachusetts. The company is publicly traded on the New York Stock Exchange under the symbol (NYSE: OB).

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included or referenced in this release which address activities, events or developments which we expect or anticipate will or may occur in the future are forward-looking statements. The words "will," "believe," "intend," "expect," "anticipate," "project," "estimate," "predict" and similar expressions are also intended to identify forward-looking statements. These forward-looking statements include, among others, statements with respect to OneBeacon:

-- growth in book value per share or return on equity;

-- business strategy;

-- financial and operating targets or plans;

-- incurred loss and loss adjustment expenses and the adequacy of its loss

and loss adjustment expense reserves and related reinsurance;

-- projections of revenues, income (or loss), earnings (or loss) per

share, dividends, market share or other financial forecasts;

-- expansion and growth of our business and operations; and

-- future capital expenditures.

These statements are based on certain assumptions and analyses made by OneBeacon in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors believed to be appropriate in the circumstances. However, whether actual results and developments will conform to our expectations and predictions is subject to a number of risks and uncertainties that could cause actual results to differ materially from expectations, including:

-- claims arising from catastrophic events, such as hurricanes,

earthquakes, floods or terrorist attacks;

-- recorded loss and loss adjustment expense reserves subsequently proving

to have been inadequate;

-- the continued availability and cost of reinsurance coverage;

-- the continued availability of capital and financing;

-- general economic, market or business conditions;

-- business opportunities (or lack thereof) that may be presented to it

and pursued;

-- competitive forces, including the conduct of other property and

casualty insurers and reinsurers;

-- changes in domestic or foreign laws or regulations, or their

interpretation, applicable to OneBeacon, its competitors or its

clients;

-- an economic downturn or other economic conditions adversely affecting

its financial position;

-- other factors, most of which are beyond OneBeacon's control; and

-- the risks that are described from time to time in OneBeacon's filings

with the Securities and Exchange Commission, including but not limited

to OneBeacon's Annual Report on Form 10-K for the fiscal year ended

December 31, 2006 filed February 28, 2007.

Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by OneBeacon will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, OneBeacon or its business or operations. OneBeacon assumes no obligation to update publicly any such forward-looking statements, whether as a result of new information, future events or otherwise.


'/>"/>
SOURCE OneBeacon Insurance Group
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. OneBeacon Professional Partners to Offer Podiatrist Medical Malpractice Product
2. WorldHeart Appoints David Pellone Chief Financial Officer
3. Novo Nordisk Appoints New Leader of North American Business
4. The American Liver Foundation Appoints Rick Smith, a Twenty-Year Veteran of The MS Society, as Chief Executive Officer
5. Millstone Medical Outsourcing Appoints Operations Manager of New Memphis, TN, Facility
6. China Holdings Appoints Ronald Shon Chairman of Advisory Board to Its Wholly-Owned Subsidiary China Power, Inc.
7. Resonant Medical Appoints New Vice President of Global Sales
8. Response Biomedical appoints S. Wayne Kay Chief Executive Officer
9. Stem Cell Therapy Disappoints Against Rare Kidney Ailment
10. EPI-Q Opens East Coast Office and Appoints Vice President-Business Development
11. President George W. Bush Appoints Susan G. Komen for the Cure Founder as Chief of Protocol
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/6/2016)... ... February 06, 2016 , ... ... , MEDIA ADVISORY: 5000 PERIOPERATIVE NURSES EXPECTED AT AORN SURGICAL CONFERENCE & ... nurses in the world with an estimated 5000 perioperative nurses in attendance ...
(Date:2/5/2016)... SARASOTA, Florida (PRWEB) , ... February 05, 2016 , ... ... an event he has completed every year since it started in 2003. This year, ... attracting the attention of fellow runners and NBA team the Miami Heat. , This ...
(Date:2/5/2016)... Minneapolis, MN (PRWEB) , ... February 05, 2016 , ... ... p.m. at the Day Block Event Center in Minneapolis, Minn. Triumph Over Parkinson’s will ... , Larry Schneiderman, owner of Schneiderman’s Furniture, lives with Parkinson’s disease and is the ...
(Date:2/5/2016)... ... 05, 2016 , ... After years as an active staff surgeon and having ... surgeon Dr. Wayne Carman transitioned to chief of the Division of Plastic Surgery at ... term as chief and began a second three-year term in January of 2016. , ...
(Date:2/5/2016)... ... , ... Regular gym users know the routine: each January, they see a ... treadmills. It’s a predictable trend. After the excesses of November and December, people make ... joining gyms, starting new walking or running routines, or signing up for Zumba. And ...
Breaking Medicine News(10 mins):
(Date:2/5/2016)... York , February 5, 2016 ... Transparency Market Research report states that the global active ... 2014 and is predicted to reach US$185.9 bn by ... of 6.50% from 2014 to 2020. The title of ... Chemical/Biological, Captive/Contract Manufactured, by Geography, and by Therapeutic Area) ...
(Date:2/5/2016)... MELVILLE, N.Y. , Feb. 5, 2016  Henry ... of health care products and services to office-based dental, ... has entered into an agreement to acquire a majority ... dental supplies and equipment in Brazil ... Headquartered in Blumenau, Brazil, Dental Cremer is the dental ...
(Date:2/4/2016)... , Feb. 4, 2016 For hospitals considering ... those already participating in the program, the Health Resources ... to as the , Mega-Guidance , could have significant ... is published in September 2016. Essential Insights ... Service Marketing , summarizes the Mega-Guidance,s key proposed changes, ...
Breaking Medicine Technology: