$2.2bn OneBeacon-Armour Re deal closes after 2-year marathon

Bermuda-headquartered insurer OneBeacon and Armour Group
Holdings have completed a marathon $2.2bn legacy deal two years
after the deal was first announced.
OneBeacon agreed to sell its non-specialty legacy business,
which includes all of its asbestos liabilities, to Armour Re in
2012.
But the deal has been repeatedly stalled by numerous regulatory
obstacles and objections from insureds, opposing the deal.
In October the regulator asked for clarification on 13 points in
a submission from OneBeac