Intact Financial Corporation (TSX: IFC) today announced that it has completed its C$2.3 billion (US$1.7 billion) acquisition of U.S. specialty insurer OneBeacon Insurance Group, Ltd. (OneBeacon). The acquisition makes IFC a leading provider of specialty insurance in North America with over C$2 billion in combined annual premiums focusing on small to midsize businesses.
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Brian Passolt joined OneBeacon Surety Group in May 2017 as Vice President of our Midwest region. Brian oversees our business activities for Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota and Wisconsin. His 16 years of surety experience have focused on the Midwest region, which positions him well in this territory. Brian may be reached at email@example.com and 312.821.4741.
Yesterday, OneBeacon announced that it has has entered into a definitive merger agreement under which Intact Financial Corporation (TSX: IFC) will acquire all outstanding OneBeacon shares for $18.10 in cash per share.
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