OneBeacon Insurance Group,
Ltd.
OB announced today that it has completed the sale of Essentia
Insurance Company to Markel Corporation. As previously announced, concurrent
with the closing of this transaction, OneBeacon and Hagerty Insurance Agency
have terminated their underwriting agreement. OneBeacon will record a $23
million pretax gain on the sale ($15 million after-tax) in its first quarter
2013 financial statements.
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