MINNETONKA, Minn., June 3, 2014 /PRNewswire/ -- OneBeacon Insurance Group, Ltd. (NYSE: OB) today announced that Elliot Konschak has joined the company as President of OneBeacon Crop Insurance, reporting to Executive Vice President and Chief Risk Officer Paul Brehm.

"We are very excited to have Elliot join our management team," said Brehm. "His substantial experience across all facets of the crop insurance industry makes him uniquely qualified to lead our newest business. We look forward to building on our momentum in the crop segment, in partnership with The Climate Corporation."

Konschak brings over 20 years of crop insurance experience to OneBeacon gained at several specialty carriers. He was most recently Senior Vice President of Underwriting at QBE NAU, the company's crop division.

Through its exclusive relationship with The Climate Corporation, OneBeacon is authorized to provide multiperil crop insurance through the federal crop insurance program administered by the U.S. Department of Agriculture's Risk Management Agency. OneBeacon and The Climate Corporation also offer crop-hail coverages to supplement the federal crop insurance program.

About OneBeacon: OneBeacon Insurance Group, Ltd. is a Bermuda-domiciled holding company that is publicly traded on the New York Stock Exchange under the symbol "OB." OneBeacon's underwriting companies offer a range of specialty insurance products sold through independent agencies, regional and national brokers, wholesalers and managing general agencies. Each business is managed by an experienced team of specialty insurance professionals focused on a specific customer group or industry segment, and providing distinct products and tailored coverages and services. OneBeacon's solutions target ocean and inland marine; entertainment, sports and leisure; group accident; crop; public entities; technology; tuition refund; professional liability; environmental; excess property; programs; and commercial surety. For further information about our products and services visit: www.onebeacon.com and to remain up to date on OneBeacon's news, follow us on Twitter @OneBeaconIns or visit our online newsroom: www.onebeacon.com/newsroom.

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

This news 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 news release that address activities, events or developments which we expect will or may occur in the future are forward-looking statements. The words "will," "believe," "intend," "expect," "anticipate," "project," "estimate," "predict," "anticipate" 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 our 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;
    --  future capital expenditures; and
    --  pending transactions.

These statements are based on certain assumptions and analyses made by us in light of OneBeacon's experience and judgments about 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 is subject to a number of risks, uncertainties or other factors which are described in more detail, that could cause actual results to differ materially from expectations, including:


    --  claims arising from catastrophic events, such as hurricanes, windstorms,
        earthquakes, floods or terrorist attacks;
    --  recorded loss and loss adjustment expense reserves subsequently proving
        to have been inadequate;
    --  exposure to asbestos or environmental claims;
    --  changes in interest rates, debt or equity markets or other market
        volatility that negatively impact our investment portfolio;
    --  competitive forces and the cyclicality of the property and casualty
        insurance industry;
    --  actions taken by rating agencies from time to time with respect to us,
        such as financial strength or credit rating downgrades or placing our
        ratings on negative watch;
    --  the continued availability of capital and financing;
    --  the outcome of litigation and other legal or regulatory proceedings;
    --  our ability to retain key personnel;
    --  our ability to continue meeting our debt and related service obligations
        or to pay dividends;
    --  the continued availability and cost of reinsurance coverage and our
        ability to collect reinsurance recoverables;
    --  the ability of our technology resources to prevent a data breach and the
        ability of our internal controls to ensure compliance with legal and
        regulatory policies;
    --  our ability to successfully develop new specialty businesses;
    --  changes in laws or regulations, or their interpretations, which are
        applicable to us, our competitors, our agents or our customers;
    --  participation in guaranty funds and mandatory market mechanisms;
    --  the impact of new theories of liability;
    --  changes to current shareholder dividend practice and regulatory
        restrictions on dividends;
    --  our status as a subsidiary of White Mountains, including potential
        conflicts of interest;
    --  whether the sale of our runoff business closes; and
    --  other factors, most of which are beyond our control, including 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 Form 10-K for the fiscal year ended
        December 31, 2013 filed February 28, 2014.

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

Website: www.onebeacon.com

SOURCE OneBeacon Insurance Group, Ltd.