OneBeacon Insurance Group has agreed to acquire Entertainment Brokers International Insurance Services, a California managing agency specializing in the entertainment, sports and leisure industries.
The sale is expected to close early in the third quarter.
EBI has locations in Los Angeles and New York City. In addition to professional liability coverages, EBI also provides excess workers compensation coverages as a wholesaler from its Westlake Village, California office.
The firm will continue to operate as a managing agency with a network of 500 independent agents and brokers.
OneBeacon said that its agents will also have access to EBI’s products.
The company said that most business produced by EBI will convert to OneBeacon upon renewal.