AM Best sees positives in OneBeacon deal – The Royal Gazette | Bermuda News, Business, Sports, Events, & Community

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AM Best sees positives in OneBeacon deal

Ratings agency AM Best has put the financial strength rating of the parent of OneBeacon Insurance Group under review with positive implications following the announcement of its impending sale to Canadian insurer Intact Financial Corporation.

OneBeacon's financial strength rating is A (Excellent) and AM Best made the same judgment on its long-term issuer credit ratings of “a”.

Island-based parent company White Mountains said this week has struck a $1.7 billion deal to sell OneBeacon to Intact.

AM Best said the OneBeacon review “reflects the potential financial and operational benefits that will be derived from IFC's being a larger, higher-rated organisation”.

OneBeacon: ratings affirmed with positive implications

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Published May 04, 2017 at 9:00 am (Updated May 04, 2017 at 12:57 am)

AM Best sees positives in OneBeacon deal

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