Canton, Mass. — OneBeacon Insurance Group Ltd., Canton, Mass., agreed today to acquire Los Angeles-based Entertainment Brokers International Insurance Services (EBI), a managing agency specializing in the entertainment, sports and leisure industries.
Onebeacon offers a range of specialty and segmented commercial and personal property/casualty products sold primarily through independent agents. EBI provides commercial insurance products including professional liability coverage, from its locations in Los Angeles and New York City. EBI also provides excess workers’ compensation coverage as a wholesaler.
EBI will continue to operate as a managing agency with a network of 500 independent agents and brokers. OneBeacon's agency partners also will have access to EBI's products. Most business produced by EBI will convert to OneBeacon upon renewal.
The sale is expected to close early in the third quarter.
Source: OneBeacon Insurance Group Ltd.
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