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OB > SEC Filings for OB > Form 8-K on 26-Feb-2014All Recent SEC Filings

Show all filings for ONEBEACON INSURANCE GROUP, LTD.

Form 8-K for ONEBEACON INSURANCE GROUP, LTD.


26-Feb-2014

Change in Directors or Principal Officers


Item 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS

On February 25, 2014, the Board of Directors of OneBeacon Insurance Group, Ltd. (the "Company") elected Patrick A. Thiele to serve as a director of the Company. Mr. Thiele will serve as a Class II director and will stand for election at the Company's 2014 Annual General Meeting. Mr. Thiele was elected to serve on the Audit Committee of the Board of Directors.

Mr. Thiele served as Chief Executive Officer of PartnerRe Ltd. from 2000 until his retirement in 2010. While at PartnerRe, he oversaw its transition to a well-diversified, global reinsurance company. He previously held executive roles at CGU (now Aviva) and at The St. Paul Companies, where he spent the first 20 years of his insurance career. At The St. Paul, Mr. Thiele assumed a broad range of responsibilities, culminating in his appointment as its Chief Executive Officer of Worldwide Insurance Operations. Mr. Thiele began his career in 1975, working as a securities analyst with the National Bank of Detroit.

Mr. Thiele will receive the same compensation as all of the Company's directors who are not employed by the Company or by White Mountains Insurance Group, Ltd. His compensation will include an annual retainer of $75,000, which is payable in cash or OneBeacon Class A common shares, and an annual $10,000 retainer for service on the Audit Committee, pro-rated based on the number of days served during the current director fee cycle. Mr. Thiele will also be paid meeting fees of $2,000 per Board or Audit Committee meeting attended, and reimbursement of expenses.

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