White Mountain unit sells subsidiary

NH Business Review Staff,

OneBeacon Insurance, a subsidiary of White Mountain Insurance, announced Oct. 4 that it has completed the $142 million sale of its National Farmers Union Property and Casualty Company subsidiary to QBE Insurance.

The sale, first announced in July, includes NFU’s wholly owned United Security Insurance subsidiary. NFI wrote $178 million in premiums last year.

OneBeacon, based in Boston, is wholly owned by White Mountain Insurance, whose U.S. headquarters are located in Hanover. It first acquired NFU in 1998, but concluded that the rural company – while performing well – had a different focus from OneBeacon.

“We would have kept it forever, if we didn’t have such an attractive offer,” David Foy, chief financial officer of the firm, told NHBR Daily. “But it wasn’t a perfect fit. NFU was mainly in the Midwest and sold through the unions. OneBeacon sold personal lines, commercial lines and had more of specialty focus.” – BOB SANDERS

Categories: News

More news from NHBR:

177683682169e860d5e1d1c
Health, News

North Country Healthcare report listening sessions

North Country Healthcare on Monday, April 13, released a report summarizing feedback from a series of community listening sessions held earlier this year across the region, highlighting widespread concern about access to care, staffing and communication, along with strong support for keeping local hospitals open.

Assisted Living Facility
News, Nonprofits

Morrison Hospital Association files for bankruptcy

Morrison Hospital Association, a nonprofit senior care provider in northern New Hampshire, filed for Chapter 11 bankruptcy protection April 10, citing mounting debt — including a nearly $23 million federal loan — and lingering financial effects from the COVID-19 pandemic.

Business Mergers And Acquisitions Concept. Share Acquisition, As
Banking and Finance, News

2026 M&A market expectations

After two choppy years for dealmakers, 2026 is starting with a very different tone, one that many business owners have been waiting for. While the past few years brought tariff swings, interest rate volatility and a cautious lending environment, the fundamentals are shifting in a way that increasingly favors sellers, especially those in the lower-middle-market (LMM).