OneBeacon Taps Miller to Replace Cavoores as CEO, President

July 1, 2005

OneBeacon Insurance Group, a wholly owned subsidiary of White Mountains Insurance Group, Ltd., today announced that Mike Miller, its current chief operating officer, has been appointed president and chief executive officer.

Miller replaces John Cavoores, who is leaving the company for personal reasons. The change is effective immediately.

Miller came to OneBeacon last April with over 24 years of insurance experience, having been recruited by the man he is replacing. He spent his first 14 years at Chubb Specialty and the last 10 years at St. Paul where he ran the specialty businesses. Most recently he was co-chief operating officer at St. Paul Travelers. He joined OneBeacon in April as chief operating officer.

Ray Barrette, CEO of White Mountains and chairman of OneBeacon praised Cavoores, who joined White Mountans in 2o00 and has been OneBeacon’s CEO since 2003.

“As OneBeacon’s CEO since 2003, he has successfully reinvented the company around dedicated teams of talented professionals focused on specialty and segmented lines and supported by a flexible corporate organization. We wish him and his family happiness as he transitions away from his White Mountains-OneBeacon family and would hope to work with him again in the future.”

Headquartered in Boston, Massachusetts, OneBeacon Insurance Group offers specialty, personal and commercial insurance products and services sold primarily through independent agents.

OneBeacon Insurance Group is wholly owned by White Mountains Insurance Group, Ltd. of Hamilton, Bermuda.

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