OneBeacon Insurance Announces 2009 Scholarship Award Winners

CANTON, Mass., June 9, 2009 /PRNewswire-FirstCall via COMTEX/ -- OB | Quote | Chart | News | PowerRating -- OneBeacon Insurance Group recently announced the winners of its annual scholarship program funded by the OneBeacon Charitable Trust. The 20 recipients were selected based on criteria including academic records, leadership skills, and participation in school and community activities. The program's $1,500 scholarships were awarded to ten children of OneBeacon employees and ten children of the company's independent agents.

Said OneBeacon CEO Mike Miller, "These students' extraordinary academic, leadership and community accomplishments warrant recognition. We are delighted to honor their achievements and assist them as they begin their college studies. Everyone at OneBeacon wishes them all the best in college and beyond."

OneBeacon's scholarship program is administered by Scholarship Management Services(R), a nonprofit scholarship program administrator, and is funded by the OneBeacon Charitable Trust. This marks the seventh year that the program has awarded scholarships. Scholarship Management Services(R), a division of Scholarship America(R), is the nation's largest administrator of scholarship, tuition assistance and education loan programs for corporations, foundations and individuals.

The 2009 OneBeacon scholarship winners are listed below:

     Scholarship     Company (Parent's                          College
      Recipient         Employer)           Location           Attending

    Caroline Altieri    OneBeacon           Canton, MA      Providence College

    John Archibald      OneBeacon           Canton, MA      Hofstra University

    Andrea Ballute      Paquin & Carroll    Biddeford, ME   Boston College
                         Insurance
    Christina Genovese  Peter M. Bakker     Avon, CT        Villanova
                         Agency                              University
    Danielle Gibbons    Johnson, Kendall    Newtown, PA     University of
                         & Johnson                           Pittsburgh
    William Gowen       Smith Gatta Gelok   Wall, NJ        Boston College
                           Insurance
    Elizabeth Harney    Woodruff-Sawyer     Portland, OR    Gonzaga
                         & Co.                               University
    Timothy Krier       OneBeacon           Littleton, CO   Colorado School
                                                             of Mines
    Ryan MacPherson     Aronson Insurance   Needham, MA     Amherst College
                           Agency
    Srihari Ravi        OneBeacon           Philadelphia,   California
                                             PA              Institute of
                                                             Technology
    Graham Rieser       OneBeacon           Chicago, IL     Dartmouth
                                                             College
    Christopher         OneBeacon           Woodbury, NY    Harvard College
     Schneider

    James Sears         Jenkins Insurance   Concord, CA     Stanford
                         Group                               University
    Jessica Strauss     OneBeacon           Williamsville,  University of
                                             NY              Pittsburgh
    Mary Trahan         OneBeacon           South Portland, St. Anselm
                                             ME              College
    Megan Troy          Troy, Pires         Rumford, RI     Northeastern
                         & Allen Agency                      University
    Brian Walker        OneBeacon           Canton, MA      Worcester
                                                             Polytechnic
                                                             Institute
    Rachel Witthuhn     Associated          Pullman, WA     Whitworth
                         Independent                         University
                         Agency
    Margaret Yau        OneBeacon           San Francisco,  University of
                                             CA              California:
                                                             San Diego
    Joshua Zannoni      Tompkins Insurance  Batavia, NY     Carnegie Mellon
                         Agency                              University

The OneBeacon Charitable Trust is a tax-exempt private foundation under Section 501(c)(3) of the Internal Revenue Code managed by employees of OneBeacon Insurance Company. OneBeacon Insurance Group's underwriting companies offer a range of specialty and segmented commercial and personal insurance products sold through select independent agents, regional and national brokers, and wholesalers. As one of the oldest property and casualty insurers in the United States, OneBeacon traces its roots to 1831 and the Potomac Fire Insurance Company. Today, OneBeacon's specialty insurance businesses are national in scope, while commercial lines business is produced in select territories throughout the United States. Personal lines business is concentrated in the Northeastern United States.

OneBeacon's U.S. headquarters is in Canton, Massachusetts. The company is publicly traded on the New York Stock Exchange under the symbol "OB".

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included or referenced in this release which address activities, events or developments which we expect or anticipate will or may occur in the future are forward-looking statements. The words "will," "believe," "intend," "expect," "anticipate," "project," "estimate," "predict" and similar expressions are also intended to identify forward-looking statements. These forward-looking statements include, among others, statements with respect to OneBeacon's:

    --  change in book value per share or return on equity;
    --  business strategy;
    --  financial and operating targets or plans;
    --  incurred loss and loss adjustment expenses and the adequacy of its loss
        and loss adjustment expense reserves and related reinsurance;
    --  projections of revenues, income (or loss), earnings (or loss) per share,
        dividends, market share or other financial forecasts;
    --  expansion and growth of our business and operations; and
    --  future capital expenditures.

These statements are based on certain assumptions and analyses made by OneBeacon in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors believed to be appropriate in the circumstances. However, whether actual results and developments will conform to our expectations and predictions is subject to a number of risks and uncertainties that could cause actual results to differ materially from expectations, including:

    --  claims arising from catastrophic events, such as hurricanes, windstorms,
        earthquakes, floods, fires, explosions, terrorist attacks or severe
        winter weather;
    --  recorded loss and loss adjustment expense reserves subsequently proving
        to have been inadequate;
    --  the continued availability and cost of reinsurance coverage;
    --  the continued availability of capital and financing;
    --  general economic, market or business conditions;
    --  business opportunities (or lack thereof) that may be presented to it and
        pursued;
    --  competitive forces, including the conduct of other property and casualty
        insurers and agents;
    --  changes in domestic or foreign laws or regulations, or their
        interpretation, applicable to OneBeacon, its competitors, its agents or
        its customers;
    --  an economic downturn or other economic conditions adversely affecting
        its financial position including stock market volatility;
    --  actions taken by ratings agencies from time to time, such as financial
        strength or credit ratings downgrades or placing ratings on negative
        watch;

    --  the risks that are described from time to time in OneBeacon's
        filings with the Securities and Exchange Commission, including but not
        limited to OneBeacon's Annual Report on the Form 10-K for the
        fiscal year ended December 31, 2008 filed February 27, 2009.

Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by OneBeacon will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, OneBeacon or its business or operations. OneBeacon assumes no obligation to update publicly any such forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE OneBeacon Insurance Group, Ltd.

http://www.onebeacon.com

More News:   Market Updates | Stock Alerts | All Trading News | Stock Index