OneBeacon set to swoop for EBI
Created: Jun 25, 2008 11:00 AM
NEW YORK (AP) - Bermuda-based property and casualty insurer OneBeacon Insurance Group Ltd. said on Monday it will buy Entertainment Brokers International Insurance Services (EBI), an insurance agency specialising in the entertainment, sports and leisure industries.
Financial terms of the deal were not disclosed.
Under the terms of the deal, OneBeacon said its agency partners will have access to EBI's products. Most business produced by EBI, the company said, will be converted to OneBeacon upon renewal.
OneBeacon said the deal is expected to close early in the third quarter.