July 30, 2012
/PRNewswire/ -- OneBeacon Insurance Group (NYSE: OB) today announced the appointment of
Tyler Van Spanje
as Inland Marine Regional Presidents. In these new roles, each will be accountable for a specific geographic territory, overseeing all local business development, producer relationships and underwriting results. Garrett, Tuttle and
join National Product Line Director
to form the Inland Marine leadership team. All four managers report to
, President of the company's International Marine Underwriters business unit.
"We are excited to welcome Kirk, Ben and Tyler to OneBeacon," said Gallagher. "Through these talented new leaders, we've substantially enhanced our inland marine capabilities, which nicely complements our longstanding ocean marine business."
Garrett oversees the Mid-America Region. He brings over 20 years of industry experience, primarily in the inland marine segment. He began his career in risk control, eventually assuming leadership roles overseeing risk control and underwriting in the Midwest. Tuttle manages the company's Eastern Inland Marine Region. With close to 25 years in the industry, Tuttle's experience includes ocean and inland marine underwriting and leadership roles.
is accountable for the Western Region. His 16 years of experience, most recently in
, has focused on inland marine underwriting and leadership roles. His early roles included ocean marine underwriting as well.
About International Marine Underwriters:
New York City
, IMU is a member of OneBeacon Insurance Group. With 12 regional U.S. offices, IMU serves the ocean and inland marine industry through a full range of products and services. Ocean coverages include ocean cargo, commercial hull, marine liabilities, commercial marine package, marina operator–boat dealers–yacht club package and private pleasure yacht. Inland marine coverages include builder's risk, motor-truck cargo and contractor's equipment, among others.
OneBeacon Insurance Group, Ltd. is a
-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. OneBeacon's solutions target professional liability; ocean and inland marine; collector cars and boats; energy; entertainment, sports and leisure; excess property; environmental; group accident; programs; public entities; technology; and tuition refund. For further information about our products and services visit:
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Statement under the Private Securities Litigation Reform Act of 1995
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 OneBeacon's:
- change in book value per share or return on equity;
- business strategy;
- financial and operating targets or plans;
- incurred loss and loss adjustment expenses and the adequacy of its loss and loss adjustment expense reserves and related reinsurance;
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- future 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:
- claims arising from catastrophic events, such as hurricanes, windstorms, earthquakes, floods, or terrorist attacks;
- recorded loss and loss adjustment expense reserves subsequently proving to have been inadequate;
- the continued availability and cost of reinsurance coverage;
- the continued availability of capital and financing;
- general economic, market or business conditions;
- business opportunities (or lack thereof) that may be presented to it and pursued;
- competitive forces, including the conduct of other property and casualty insurers and agents;
- changes in domestic or foreign laws or regulations, or their interpretation, applicable to OneBeacon, its competitors, its agents or its customers;
- an economic downturn or other economic conditions adversely affecting its financial position including stock market volatility;
- actions taken by ratings agencies from time to time, such as financial strength or credit ratings downgrades or placing ratings on negative watch;
- the 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, 2011 filed February 28, 2012.
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 otherwise.