Reinsurance (Tables)

3 Months Ended

Mar. 31, 2014

Reinsurance Disclosures [Abstract]

Reinsurers

The following table summarizes Standard & Poor's Financial Services, LLC ("Standard & Poor's") ratings for OneBeacon's reinsurers for its continuing insurance operations, excluding industry pools and associations, based upon reinsurance recoverable amounts on paid and unpaid losses and LAE:

	Balance at March 31, 2014		% of total
Standard & Poor's Rating(1):	($ in millions)
AA	$	26.1	31	%
A	51.7		62	%
BBB+, Not Rated and Other	5.3		7	%
Total reinsurance recoverables	$	83.1	100	%

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⁽¹⁾ Standard & Poor's ratings as detailed above are "AA" (Very strong), "A" (Strong) and "BBB+" (Adequate).

The following table provides a listing of the top reinsurers related to the Runoff Business reported in assets held for sale, excluding industry pools and associations, based on reinsurance recoverable amounts on paid and unpaid losses, the percentage of the total reported as held for sale (gross of the $133.6 million in purchase accounting adjustment), and the reinsurers' A.M. Best ratings.

($ in millions)	Balance at March 31, 2014		% of total		A.M. Best Rating(1)
National Indemnity Company ("NICO") and General Reinsurance Corporation(2)	$	1,188.8	71	%	A++
Hanover Insurance Company	38.7		2	%	A
Tokio Marine and Nichido Fire(3)	26.1		2	%	A++
Munich Reinsurance America	14.1		1	%	A+
Tower Insurance Company	9.9		1	%	B(4)

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⁽¹⁾ A.M. Best ratings as detailed above are: “A++” (Superior, which is the highest of sixteen financial strength ratings), “A+” (Superior, which is the second highest of sixteen financial strength ratings), “A” (Excellent, which is the third highest of sixteen financial strength ratings) and “B” (Fair, which is the seventh highest of sixteen financial strength ratings).

⁽²⁾ Includes $198.3 million of Third Party Recoverables, which NICO would pay under the terms of the NICO Cover if they are unable to collect from third party reinsurers.

⁽³⁾ Excludes $21.4 million of reinsurance recoverables from the various reinsurers that are guaranteed by Tokio Marine and Nichido Fire.

⁽⁴⁾ Under review with developing implications.