Moody's confirms OneBeacon

Moody's Investors Service said it confirmed the Baa2 senior debt rating of OneBeacon U.S. Holdings, Inc. following plans to sell the standard personal lines business to Tower Group, Inc. for $180 million.

The outlook is negative.

Moody's said the confirmation was based on the group's narrowed strategic focus on niche, low-to-moderate hazard specialty business segments where profitability has been strong in recent years.

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