OneBeacon

Ownership Period: 2001 – 2017

Headquarters: Hamilton, Bermuda and Minneapolis, Minnesota

Sector: P&C Insurance

OneBeacon is a provider of specialty property & casualty insurance in the U.S. OneBeacon was acquired by Intact Financial in 2017.

Investment highlights:

Acquired distressed U.S. property & casualty business of CGU in 2001; rebranded as OneBeacon

Shrunk businesses to a profitable core over multiple transactions

Initial public offering of ~25% of the company in 2006 validated successful turnaround effort

Executed strategic transformation into pure specialty company, disposing of personal lines, non-specialty commercial lines and run-off businesses

Acquired by Intact Financial in 2017