OneBeacon Purchasing Entertainment Brokers Int.

OneBeacon Insurance Group has signed an agreement to acquire Entertainment Brokers International Insurance Services, a California general partnership. EBI is a managing agency specializing in the entertainment, sports and leisure industries. The sale is expected to close early in the third quarter.

EBI provides commercial insurance products including professional liability coverages from its locations in Los Angeles and New York City. EBI also provides excess workers' compensation coverages as a wholesaler from its Westlake Village, California office. They will continue to operate as a managing agency with a network of 500 independent agents and brokers. OneBeacon's agency partners will also have access to EBI's products. Most business produced by EBI will convert to OneBeacon upon renewal.

Kevin Rehnberg, OneBeacon's senior vice president of specialty lines said, "We are very excited about this acquisition as EBI's deep focus on the entertainment markets aligns perfectly with our specialization strategy. We look forward to welcoming Jack Cave, Bill Cody, Martin Ridgers and the team to OneBeacon, and promoting our newest capability."

Added EBI managing partner Jack Cave, "We're very excited about becoming a part of OneBeacon. For nearly 20 years, we've prided ourselves on serving the entertainment, sports, leisure and contingency insurance segments with superior insurance solutions and service capabilities. In OneBeacon, we've found a partner that shares our view that experience and expertise, along with unique product offerings are the best means to serve our specialized business segment. This is a very positive step for our agents and brokers and their clients, as well as our employees."