Patrick Thiele Elected Director Of OneBeacon
HAMILTON, Bermuda, Feb. 26, 2014
HAMILTON, Bermuda, Feb. 26, 2014 /PRNewswire/ -- The OneBeacon Insurance
Group, Ltd. (NYSE: OB) Board of Directors announced that it has elected
Patrick A. Thiele, 63, as a Class II Director.
Mr. Thiele's insurance career spans more than 30 years in the
property-casualty business. He served as Chief Executive Officer of PartnerRe
Ltd. for ten years, retiring in 2010. While at PartnerRe he oversaw its
transition to a well-diversified, global reinsurance company. Previously, he
held executive roles at CGU (now Aviva) and at The St. Paul Companies. At The
St. Paul, he held a broad range of responsibilities, including Chief Executive
of Worldwide Insurance Operations. Mr. Thiele began his career in 1975 as a
securities analyst with the National Bank of Detroit.
Mike Miller, CEO of OneBeacon, said, "We are pleased to welcome Pat to the
OneBeacon Board of Directors. He is eminently qualified to serve on our Board.
Pat earned an outstanding reputation as an executive and leader in our
industry. I am pleased that he is willing to bring his knowledge, insights
and dedication to our Board, and we look forward to his contributions."
Added Pat Thiele, "I'm excited and proud to join the OneBeacon Board.Mike and
his team have done an outstanding job transitioning OneBeacon into a specialty
insurance company. I hope I can help them build on that success."
About OneBeacon: OneBeacon Insurance Group, Ltd. is a Bermuda-domiciled
holding company that is publicly traded on the New York Stock Exchange under
the symbol "OB." OneBeacon's underwriting companies offer a range of specialty
insurance products sold through independent agencies, regional and national
brokers, wholesalers and managing general agencies. Each business is managed
by an experienced team of specialty insurance professionals focused on a
specific customer group or industry segment, and providing distinct products
and tailored coverages and services. OneBeacon's solutions target ocean and
inland marine; entertainment, sports and leisure; group accident; crop; public
entities; technology; tuition refund; professional liability; environmental;
excess property; programs; and commercial surety. For further information
about our products and services visit: www.onebeacon.comand to remain up to
date on OneBeacon's news, follow us on Twitter @OneBeaconIns or visit our
online newsroom: www.onebeacon.com/newsroom.
Safe Harbor Statement under the Private Securities Litigation Reform Act of
This press release may contain "forward-looking statements" within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. All statements, other than statements of historical
facts, included or referenced in this release which address activities, events
or developments which we expect or anticipate will or may occur in the future
are forward-looking statements. The words "will," "believe," "intend,"
"expect," "anticipate," "project," "estimate," "predict" and similar
expressions are also intended to identify forward-looking statements. These
forward-looking statements include, among others, statements with respect to
ochange in book value per share or return on equity;
ofinancial and operating targets or plans;
oincurred loss and loss adjustment expenses and the adequacy of its loss
and loss adjustment expense reserves and related reinsurance;
oprojections of revenues, income (or loss), earnings (or loss) per share,
dividends, market share or other financial forecasts;
oexpansion and growth of our business and operations; and
ofuture capital expenditures
These statements are based on certain assumptions and analyses made by
OneBeacon in light of its experience and perception of historical trends,
current conditions and expected future developments, as well as other factors
believed to be appropriate in the circumstances. However, whether actual
results and developments will conform to our expectations and predictions is
subject to a number of risks and uncertainties that could cause actual results
to differ materially from expectations, including:
oclaims arising from catastrophic events, such as hurricanes, windstorms,
earthquakes, floods, or terrorist attacks;
orecorded loss and loss adjustment expense reserves subsequently proving to
have been inadequate;
othe continued availability and cost of reinsurance coverage;
othe continued availability of capital and financing;
ogeneral economic, market or business conditions;
obusiness opportunities (or lack thereof) that may be presented to it and
ocompetitive forces, including the conduct of other property and casualty
insurers and agents;
ochanges in domestic or foreign laws or regulations, or their
interpretation, applicable to OneBeacon, its competitors, its agents or
oan economic downturn or other economic conditions adversely affecting its
financial position including stock market volatility;
oactions taken by ratings agencies from time to time, such as financial
strength or credit ratings downgrades or placing ratings on negative
othe risks that are described from time to time in OneBeacon's filings with
the Securities and Exchange Commission, including but not limited to
OneBeacon's Annual Report on the Form 10-K for the fiscal year ended
December 31, 2012 filed February 28, 2013.
Consequently, all of the forward-looking statements made in this press release
are qualified by these cautionary statements, and there can be no assurance
that the actual results or developments anticipated by OneBeacon will be
realized or, even if substantially realized, that they will have the expected
consequences to, or effects on, OneBeacon or its business or operations.
OneBeacon assumes no obligation to update publicly any such forward-looking
statements, whether as a result of new information, future events or
SOURCE OneBeacon Insurance Group, Ltd.
Contact: Carmen Duarte, 781.332.7268, firstname.lastname@example.org
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