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OB > SEC Filings for OB > Form 8-K on 1-Nov-2012All Recent SEC Filings

Show all filings for ONEBEACON INSURANCE GROUP, LTD.

Form 8-K for ONEBEACON INSURANCE GROUP, LTD.


1-Nov-2012

Other Events


ITEM 8.01. OTHER EVENTS

On October 29, 2012, a severe storm ("Hurricane Sandy") made landfall in the Mid-Atlantic and Northeastern regions of the United States. It is too early for OneBeacon Insurance Group, Ltd. (the "Company") to reasonably estimate the loss it will incur in connection with Hurricane Sandy. The Company's initial analysis, based on internally modeled exposure data, indicates that the loss will not reach the $25 million attachment point of its property catastrophe reinsurance program. The actual loss may differ materially from this initial indication. Even if the actual loss related to Hurricane Sandy does penetrate the reinsurance program, the Company expects that the net after tax loss would not be material to its financial condition, though it may be material to the Company's quarterly earnings results. For more information about the company's property catastrophe reinsurance program, see "Note 4. Reinsurance" in the Notes to Consolidated Financial Statements in the Company's Quarterly Report on Form 10-Q for the Quarter ended September 30, 2012, which was filed on October 30, 2012.


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