OneBeacon Enters Professional Liability Insurance Market

February 7, 2002

OneBeacon Insurance Group, a wholly owned subsidiary of White Mountains Insurance Group, Ltd., announced its entrance into the Directors and Officers Liability and Professional Liability insurance markets under the name OneBeacon Professional Partners.

OneBeacon Professional Partners will seek new business in the areas of public and private company D&O coverage, as well as Professional Liability, including, but not limited to, Medical Professional Liability and Medical Provider Excess Insurance. Founding members of this new OneBeacon team are Matt Dolan, Tracy Hoffman, Randy Oates, Mark Rosen and Josh Stein, all based in Simsbury, CT. Dolan, Hoffman and Oates will handle all underwriting and marketing efforts; Rosen will oversee Claims; and Stein will be handling reinsurance. The team reports to Larry Haefner, Managing Director of OneBeacon’s specialty businesses.

John Cavoores, President and Chief Operating Officer of OneBeacon commented that he was particularly pleased to be adding this operation to the company’s portfolio of profitable, specialty offerings. Cavoores said the current market dynamics are in the company’s favor, and OneBeacon fully expects to be a stable and responsible provider.

Over the past year, OneBeacon has focused on becoming a strong, regional property/casualty carrier in the Northeast, while at the same time nurturing a selected number of specialty businesses. Those national operations include International Marine Underwriters and Kansas-based OneBeacon Agri.

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