Fitch upgrades OneBeacon to A

Fitch Ratings said it upgraded OneBeacon Insurance Group, Ltd.’s long-term issuer default rating to A from BBB+ and the insurer financial strength rating of its operating subsidiaries to AA- from A.

The ratings were removed from rating watch positive.

The outlook is stable.

Fitch said the action follows the closing of OneBeacon's acquisition by Intact Financial Corp. for $1.7 billion or about C$2.3 billion.

The ratings are equivalent to the issuer default rating and insurer financial strength rating ratings of Intact and its operating subsidiaries.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.