Kramer Levin Advises OneBeacon Insurance in $1.7 Billion Merger‎

Kramer Levin is representing OneBeacon Insurance Group Ltd., a Bermuda-domiciled public holding company, in the U.S. insurance and regulatory aspects of its acquisition by Intact Financial Corporation for $1.7 billion in cash plus $275 million in debt. The transaction, which was announced May 2, 2017, will transform Intact – the largest provider of property and casualty insurance in Canada with more than CA$8 billion of annual premiums – into a North American leader in specialty insurance, as well, with more than US$1.5 billion of annual premiums. The deal is expected to close in the fourth quarter.