Dominic Frederico to speak at NY insurance conference

FRIDAY, SEPTEMBER 2:  Bermuda-based Assured Guaranty Ltd. announced that Dominic Frederico, president and CEO, is scheduled to present at the Keefe, Bruyette & Woods 2011 Insurance Conference.

Mr Frederico is scheduled to speak at 10:30am Bermuda Time at The Crowne Plaza Times Square in New York City on Wednesday, September 7.

OneBeacon sells AutoOne

Bermuda-domiciled OneBeacon Insurance Group announced that it has entered into a definitive agreement to sell its AutoOne business to Interboro Holdings, Inc.

OneBeacon formed AutoOne in 2001 to provide products and services to automobile assigned risk markets primarily in New York and New Jersey. AutoOne is part of OneBeacon’s Other Insurance Operations, which also include OneBeacon’s runoff business. The sale does not impact OneBeacon’s ongoing Specialty Insurance Operations.

OneBeacon CEO Mike Miller said: “This transaction allows us to continue our focus on our higher performing specialty operations, while aligning AutoOne with an owner committed to serving the personal automobile insurance market.”

Northern Offshore gets $35.7M contract

Bermuda-domiciled Northern Offshore said that its subsidiary, Northern Offshore UK Limited, was awarded a contract from Maersk Olie og Gas AS, for the jackup Energy Enhancer.

The award is subject to approval by the Danish Energy Authority. The contract value for the initial term is US $35.7 million.

Gary W. Casswell, Northern Offshore’s president and CEO, said: “We are very pleased with this contract award as it provides us with the opportunity to further strengthen our long-term relationship with Maersk.”