Insight and Intelligence on the London & International Insurance Markets

9 February 2012

Tower to build personal lines around $180mn OceanBeacon acquisitions

10 February 2010

Expansive US insurance group Tower Group has snapped up the personal lines activities of White Mountains subsidiary OneBeacon Insurance Group for $180mn, to form the backbone of a new $700mn revenue business.

The New York-based P&C group acquired two insurers, two management companies and renewal rights for $32.5mn, plus the book value of around $148mn, from the Bermuda-domiciled insurer.

It follows a series of acquisitions by Tower Group in 2009, including Specialty Underwriters' Alliance for around $107mn in June, US...

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