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February 3, 2010
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| 07:06 EDT |  | OB |
| | 06:50 EDT |  | OB |
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February 2, 2010
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| 16:08 EDT |  | OB |
| theflyonthewall.com: | Tower announces acquisition of Onebeacon Insurance's Personal Lines Division | | Tower Group (TWGP) announced that it has entered into a definitive agreement to purchase the Personal Lines Division of OneBeacon Insurance Group (OB). The transaction involves the acquisition of two insurance companies, two management companies, certain renewal rights and other associated assets. The acquired insurance companies write approximately $250M of annual premiums, and the acquired management companies are attorneys-in-fact that manage approximately $250M in annual premium written through two reciprocal insurance companies. Tower will write and manage the private passenger automobile, homeowners and package policies through the companies currently issuing these policies and combine its existing personal lines operations with the business being acquired. Excluded from this transaction are AutoOne, specialty collector car and boat businesses, and Houston General companies. The Personal Lines Division writes business in the Northeastern United States with offices in: Canton, Massachusetts; South Portland, Maine; and Williamsville, New York. :theflyonthewall.com |
| | 16:03 EDT | | OB |
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