Through this transaction, OneBeacon expands its owned-brokerage assets and innovatively reshapes its customs bonds market offerings through an end-to-end risk management platform
OneBeacon Insurance Group, the brand for Intact Financial Corporation’s U.S. insurance company subsidiaries, today announced that it has acquired International Bond & Marine Brokerage, a privately held brokerage specializing in the international trade markets. Through this transaction, OneBeacon expands its owned-brokerage assets and innovatively reshapes its customs bonds market offerings through an end-to-end risk management platform.
Said Mike Seff, Head of Surety North America, “We are excited to welcome IB&M to the OneBeacon and Intact family. Their deep focus on international trade customers and ability to provide risk management solutions spanning customs bonds, cargo, liability and other important insurance coverages speaks to their expertise and track record. We look forward to a seamless transition for all affected brokers and their clients.”
Added IB&M President Kevin Tattam, “On behalf of everyone at IB&M, we are very pleased to become part of OneBeacon, one of the leading providers of surety bonds. As a specialty carrier, they understand the value of dedicated expertise serving a specific market segment. This alignment well positions us for expansion and growth going forward.”
IB&M will retain its brand and operate as a standalone brokerage, available to serve its clients, agents and brokers’ risk management needs through its current select markets, and now additionally through OneBeacon.
Source: Company Press Release