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 <p align="center" style="line-height:normal;margin:0pt 0pt .0001pt;text-align:center;"><a name="scotch"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON MAY 29, 2007</font></a></p> <div style="border:none;border-bottom:double windowtext 6.0pt;padding:0pt 0pt 0pt 0pt;"> <p align="right" style="border:none;line-height:normal;margin:0pt 0pt .0001pt 36.0pt;padding:0pt;text-align:right;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">REGISTRATION NO. 333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p> </div>

<p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="line-height:normal;margin:0pt 0pt .0001pt 36.0pt;text-align:center;text-indent:-36.0pt;"><b><font size="5" face="Times New Roman" style="background:white;font-size:18.0pt;font-weight:bold;">UNITED STATES</font></b></p>

<p align="center" style="line-height:normal;margin:0pt 0pt .0001pt 36.0pt;text-align:center;text-indent:-36.0pt;"><b><font size="5" face="Times New Roman" style="background:white;font-size:18.0pt;font-weight:bold;">SECURITIES AND
EXCHANGE COMMISSION</font></b></p>

<p align="center" style="line-height:normal;margin:0pt 0pt 12.0pt 36.0pt;text-align:center;text-indent:-36.0pt;"><b><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;font-weight:bold;">WASHINGTON, D.C. 20549</font></b></p>

<div style="line-height:9.0pt;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><hr size="1" width="160" noshade color="black" align="center" style="width:120.0pt;"></div>

<p align="center" style="line-height:normal;margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="5" face="Times New Roman" style="background:white;font-size:18.0pt;font-weight:bold;">FORM S-8</font></b></p>

<p align="center" style="line-height:normal;margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="3" face="Times New Roman" style="background:white;font-size:12.0pt;font-weight:bold;">REGISTRATION STATEMENT<br>
UNDER<br>
THE SECURITIES ACT OF 1933</font></b></p>

<div style="line-height:9.0pt;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><hr size="1" width="160" noshade color="black" align="center" style="width:120.0pt;"></div>

<p align="center" style="line-height:normal;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="background:white;font-size:18.0pt;font-weight:bold;">ONEBEACON INSURANCE
GROUP, LTD.</font></b></p>

<p align="center" style="line-height:normal;margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">(Exact
Name of Registrant as Specified in Its Charter)</font></p>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.8%;">
  <p align="center" style="font-size:10.0pt;line-height:normal;margin:0pt 0pt .0001pt;text-align:center;"><!-- SET mrlNoTableShading --><b>Bermuda</b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.38%;">
  <p align="center" style="line-height:normal;margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.8%;">
  <p align="center" style="line-height:normal;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">98-0503315</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.8%;">
  <p align="center" style="line-height:normal;margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(State or Other
  Jurisdiction of Incorporation or<br>
  Organization)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.38%;">
  <p align="center" style="line-height:normal;margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.8%;">
  <p align="center" style="line-height:normal;margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(I.R.S. Employer
  Identification No.)</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="3" valign="top" style="padding:0pt .7pt 0pt .7pt;width:100.0%;">
  <p align="center" style="line-height:normal;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="3" valign="top" style="padding:0pt .7pt 0pt .7pt;width:100.0%;">
  <p align="center" style="line-height:normal;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">601
  Carlson Parkway</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="3" valign="top" style="padding:0pt .7pt 0pt .7pt;width:100.0%;">
  <p align="center" style="line-height:normal;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Minnetonka,
  MN 55305</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="3" valign="top" style="padding:0pt .7pt 0pt .7pt;width:100.0%;">
  <p align="center" style="line-height:normal;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(952)
  852-2431</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="3" valign="top" style="padding:0pt .7pt 0pt .7pt;width:100.0%;">
  <p align="center" style="line-height:normal;margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address,
  including zip code and telephone number, of principal executive offices)</font></p>
  </td>
 </tr>
</table>

</div>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="line-height:normal;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;font-weight:bold;">ONEBEACON 2007
LONG-TERM INCENTIVE PLAN </font></b></p>

<p align="center" style="line-height:normal;margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">(Full
Titles of the Plan)</font></p>

<p align="center" style="font-size:10.0pt;line-height:normal;margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman"><font style="background:white;font-size:10.0pt;font-weight:bold;">Jennifer E. Lawrence, Esq.<br>
OneBeacon Insurance Group LLC<br>
One Beacon Lane<br>
Canton, MA 02021<br>
</font>(781) 332-1000<font style="background:white;"><br>
</font></font></b><font style="background:white;">(Name, Address, and Telephone
Number, Including Area Code, of Agent for Service)</font></p>

<p align="center" style="line-height:normal;margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;font-weight:bold;">CALCULATION OF REGISTRATION FEE</font></b></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="21%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:double windowtext 1.5pt;padding:0pt .7pt 0pt 0pt;width:21.8%;">
  <p style="font-size:8.0pt;font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><!-- SET mrlNoTableShading -->Title&nbsp;of&nbsp;securities&nbsp;to&nbsp;be<br>
  registered</p>
  </td>
  <td width="1%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:double windowtext 1.5pt;padding:0pt .7pt 0pt 0pt;width:1.58%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="16%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:double windowtext 1.5pt;padding:0pt .7pt 0pt 0pt;width:16.3%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Amount&nbsp;to&nbsp;be<br>
  registered(1)</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:double windowtext 1.5pt;padding:0pt .7pt 0pt 0pt;width:1.58%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="16%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:double windowtext 1.5pt;padding:0pt .7pt 0pt 0pt;width:16.3%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Proposed&nbsp;maximum&nbsp;<br>
  offering&nbsp;price&nbsp;per&nbsp;share</font></b></p>
  </td>
  <td width="3%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:double windowtext 1.5pt;padding:0pt .7pt 0pt 0pt;width:3.56%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="16%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:double windowtext 1.5pt;padding:0pt .7pt 0pt 0pt;width:16.3%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Proposed&nbsp;maximum&nbsp;<br>
  aggregate&nbsp;offering&nbsp;price</font></b></p>
  </td>
  <td width="3%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:double windowtext 1.5pt;padding:0pt .7pt 0pt 0pt;width:3.56%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="16%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:double windowtext 1.5pt;padding:0pt .7pt 0pt 0pt;width:16.3%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Amount&nbsp;of<br>
  registration&nbsp;fee</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:double windowtext 1.5pt;padding:0pt .7pt 0pt 0pt;width:2.76%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="21%" valign="top" style="border:none;border-bottom:double windowtext 1.5pt;padding:0pt .7pt 0pt 0pt;width:21.8%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Class A Common Shares,
  par value $0.01 per share</font></p>
  </td>
  <td width="1%" valign="bottom" style="border:none;border-bottom:double windowtext 1.5pt;padding:0pt .7pt 0pt 0pt;width:1.58%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="bottom" style="border:none;border-bottom:double windowtext 1.5pt;padding:0pt .7pt 0pt 0pt;width:16.3%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15,000,000</font></p>
  </td>
  <td width="1%" valign="bottom" style="border:none;border-bottom:double windowtext 1.5pt;padding:0pt .7pt 0pt 0pt;width:1.58%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="bottom" style="border:none;border-bottom:double windowtext 1.5pt;padding:0pt .7pt 0pt 0pt;width:16.3%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$24.425</font></p>
  </td>
  <td width="3%" valign="bottom" style="border:none;border-bottom:double windowtext 1.5pt;padding:0pt .7pt 0pt 0pt;width:3.56%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)</font></p>
  </td>
  <td width="16%" valign="bottom" style="border:none;border-bottom:double windowtext 1.5pt;padding:0pt .7pt 0pt 0pt;width:16.3%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$366,375,000</font></p>
  </td>
  <td width="3%" valign="bottom" style="border:none;border-bottom:double windowtext 1.5pt;padding:0pt .7pt 0pt 0pt;width:3.56%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)</font></p>
  </td>
  <td width="16%" valign="bottom" style="border:none;border-bottom:double windowtext 1.5pt;padding:0pt .7pt 0pt 0pt;width:16.3%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$11,247.71</font></p>
  </td>
  <td width="2%" valign="bottom" style="border:none;border-bottom:double windowtext 1.5pt;padding:0pt .7pt 0pt 0pt;width:2.76%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)</font></p>
  </td>
 </tr>
</table>

<h1 style="font-size:10.0pt;font-weight:normal;line-height:normal;margin:0pt 0pt 12.0pt 36.0pt;page-break-after:avoid;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">(1)</font><font size="1" style="background:white;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="background:white;">Represents the authorized
number of Common Shares as to which equity-based compensation may be granted
under the OneBeacon 2007 Long Term Incentive Plan.</font></h1>

<p style="font-size:10.0pt;line-height:normal;margin:0pt 0pt 12.0pt 36.0pt;page-break-after:avoid;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">&#160;(2)</font><font size="1" style="background:white;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Estimated
solely for the purpose of calculating the registration fee pursuant to Rule
457(h) and (c) under the Securities Act of 1933, the proposed maximum offering
price per share, the proposed maximum aggregate offering price and the amount
of the registration fee have been computed on the basis of the average of the
high and low price per common share as reported on the New York Stock Exchange
on May 21, 2007.</p>


 <div style="border:none;border-bottom:double windowtext 6.0pt;padding:0pt 0pt 0pt 0pt;"> <p style="border:none;line-height:normal;margin:0pt 0pt .0001pt;padding:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p> </div>
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<p align="center" style="line-height:normal;margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;font-weight:bold;">PART I</font></b></p>

<p align="center" style="line-height:normal;margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">INFORMATION
REQUIRED IN THE SECTION 10(A) PROSPECTUS</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;line-height:normal;margin:0pt 0pt 12.0pt 72.0pt;text-indent:-72.0pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">ITEM 1.</font><font size="1" style="background:white;font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="background:white;">PLAN INFORMATION.</font></p>

<p style="line-height:normal;margin:0pt 0pt 12.0pt;text-indent:54.0pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">All information required by Part I to
be contained in the Section 10(a) prospectus is omitted from this Registration
Statement in accordance with Rule 428 under the Securities Act of 1933, as
amended (the &#147;Securities Act&#148;), and the Note to Part I of Form S-8.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;line-height:normal;margin:0pt 0pt 12.0pt 72.0pt;text-indent:-72.0pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">ITEM 2.</font><font size="1" style="background:white;font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="background:white;">REGISTRANT INFORMATION AND EMPLOYEE PLAN ANNUAL
INFORMATION.</font></p>

<p style="line-height:normal;margin:0pt 0pt 12.0pt;text-indent:54.0pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">All information required by Part I to
be contained in the Section 10(a) prospectus is omitted from this Registration
Statement in accordance with Rule 428 under the Securities Act and the Note to
Part I of Form S-8.</font></p>

<p align="center" style="line-height:normal;margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;font-weight:bold;">PART II</font></b></p>

<p align="center" style="line-height:normal;margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">INFORMATION
REQUIRED IN THE REGISTRATION STATEMENT</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;line-height:normal;margin:0pt 0pt 12.0pt 72.0pt;text-indent:-72.0pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">ITEM 3.</font><font size="1" style="background:white;font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="background:white;">INCORPORATION OF DOCUMENTS BY REFERENCE.</font></p>

<p style="line-height:normal;margin:0pt 0pt 12.0pt;text-indent:54.0pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">The following documents previously
filed with the Securities and Exchange Commission (the &#147;Commission&#148;) by
OneBeacon Insurance Group, Ltd. (the &#147;Registrant&#148;) pursuant to the Securities
Act of 1933 (the &#147;Securities Act&#148;) and the Securities Exchange Act of 1934 (the
&#147;Exchange Act&#148;) are incorporated by reference herein and shall be deemed a part
hereof:&nbsp; (1) the Registrant&#146;s Annual Report on Form 10-K for the fiscal
year ended December 31, 2006 filed with the Commission on February 28, 2007;
(2) the Registrant&#146;s Quarterly Report on Form 10-Q for the quarter ended March
31, 2007 filed with the Commission on May 2, 2007; (3) Current Reports on Form
8-K filed with the Commission on February 2, 2007, February 5, 2007, February
22, 2007, February 26, 2007, March 1, 2007, April 3, 2007, and May 2, 2007; and
(2) the description of the Registrant&#146;s Common Shares contained in our
Registration Statement on Form S-1 (Reg. No. 333-136287), filed pursuant to
Section 12 of the Exchange Act with the Securities and Exchange Commission on
August 4, 2006, as amended, including any form of prospectus contained therein
filed pursuant to Rule 424(b) under the Securities Act of 1933 (the &#147;Registration
Statement&#148;), which description is incorporated herein by reference.</font></p>

<p style="line-height:normal;margin:0pt 0pt 12.0pt;text-indent:54.0pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">All documents filed by the Registrant
pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act after the
date hereof and prior to the filing of a post-effective amendment which
indicates that all securities offered have been sold or which deregisters all
securities then remaining unsold, shall be deemed to be incorporated by
reference herein and to be a part hereof from the date of filing of such
documents.</font></p>


 <p style="font-size:10.0pt;line-height:normal;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">2</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="line-height:normal;margin:0pt 0pt 12.0pt;text-indent:54.0pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">Any statement contained in this
Registration Statement, in an amendment hereto or in a document incorporated or
deemed to be incorporated by reference herein shall be deemed to be modified or
superseded for purposes of this Registration Statement to the extent that a
statement contained herein or in any subsequently filed amendment to this
Registration Statement or in any document that also is or is deemed to be
incorporated by reference herein modifies or supersedes such statement.&nbsp;
Any statement so modified or superseded shall not be deemed, except as so
modified or superseded, to constitute a part of this Registration Statement.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;line-height:normal;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">ITEM 4.</font><font size="1" style="background:white;font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="background:white;">DESCRIPTION OF SECURITIES.</font></p>

<p style="line-height:normal;margin:0pt 0pt 12.0pt;text-indent:54.0pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">Not applicable.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;line-height:normal;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">ITEM 5.</font><font size="1" style="background:white;font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="background:white;">INTERESTS OF NAMED EXPERTS AND COUNSEL.</font></p>

<p style="line-height:normal;margin:0pt 0pt 12.0pt;text-indent:54.0pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">Not applicable.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;line-height:normal;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">ITEM 6.</font><font size="1" style="background:white;font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="background:white;">INDEMNIFICATION OF DIRECTORS AND OFFICERS.</font></p>

<p style="line-height:normal;margin:0pt 0pt 12.0pt;text-indent:54.0pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">The Registrant is a Bermuda exempted
limited liability company. Section&nbsp;98 of the Companies Act 1981 of Bermuda
(the &#147;Companies Act&#148;) provides generally that a Bermuda company may indemnify
its directors, officers and auditors against any liability which by virtue of
any rule of law would otherwise be imposed on them in respect of any
negligence, default, breach of duty or breach of trust, except in cases where
such liability arises from fraud or dishonesty of which such director, officer
or auditor may be guilty in relation to the company. Section&nbsp;98 further
provides that a Bermuda company may indemnify its directors, officers and
auditors against any liability incurred by them in defending any proceedings,
whether civil or criminal, in which judgment is awarded in their favor or in
which they are acquitted or granted relief by the Supreme Court of Bermuda
pursuant to section 281 of the Companies Act.</font></p>

<p style="line-height:normal;margin:0pt 0pt 12.0pt;text-indent:54.0pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">Section 33 of the Registrant&#146;s
Bye-laws (the &#147;Bye-laws&#148;) provides that the Registrant will indemnify its
officers and directors to the fullest extent possible under the Companies
Act.&nbsp; Without limiting the foregoing, the directors, secretary and other
officers (including any alternate director or any person appointed to any
committee by the board of directors or any person who is or was serving at the
request of the Registrant as a director, officer, employee or agent of another
corporation, partnership, joint venture, trust or other enterprise (including,
without limitation, any employee benefit plan)) and every one of them, and
their heirs, executors and administrators, shall be indemnified and secured harmless
out of the assets of the Registrant from and against all actions, costs,
charges, losses, damages and expenses which they or any of them, their heirs,
executors or administrators, shall or may incur or sustain by or by reason of
any act done, concurred in or omitted (actual or alleged) in or about the
execution of their duty, or supposed duty, or in their respective offices or
trusts, and none of them shall be answerable for the acts, receipts, neglects
or defaults of the others of them or for joining in any receipts for the sake
of conformity, or for any bankers or other persons with whom any moneys or
effects belonging to the Registrant shall or may be lodged or deposited for
safe custody, or for</font></p>


 <p style="font-size:10.0pt;line-height:normal;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">3</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="line-height:normal;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">insufficiency or deficiency of any
security upon which any moneys of or belonging to the Registrant shall be
placed out on or invested, or for any other loss, misfortune or damage which
may happen in the execution of their respective offices or trusts, or in
relation thereto, provided that this indemnity shall not extend to any matter
in respect of which such person is, or may be, found guilty of fraud or
dishonesty.</font></p>

<p style="line-height:normal;margin:0pt 0pt 12.0pt;text-indent:54.0pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">The Registrant may purchase and
maintain insurance to protect itself and any director, officer or other person
entitled to indemnification pursuant to the Bye-laws to the fullest extent
permitted by law.</font></p>

<p style="line-height:normal;margin:0pt 0pt 12.0pt;text-indent:54.0pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">All reasonable expenses incurred by
or on behalf of any person entitled to indemnification pursuant to Section 33
of the Bye-laws in connection with any proceeding shall be advanced to such
person by the Registrant within twenty (20) business days after the receipt by
the Registrant of a statement or statements from such person requesting such
advance or advances from time to time, whether prior to or after final
disposition of such proceeding.&nbsp; Such statement or statements shall
reasonably evidence the expenses incurred by such person and, if required by
law or requested by the Registrant at the time of such advance, shall include
or be accompanied by an undertaking by or on behalf of such person to repay the
amounts advanced if it should ultimately be determined that such person is not
entitled to be indemnified against such expenses pursuant to the Bye-laws.</font></p>

<p style="line-height:normal;margin:0pt 0pt 12.0pt;text-indent:54.0pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">The right of indemnification and
advancement of expenses provided in the Bye-laws shall not be exclusive of any
other rights to which those seeking indemnification may otherwise be entitled,
and the provisions of the Bye-laws shall inure to the benefit of the heirs and
legal representatives of any person entitled to indemnity under the Bye-laws
and shall be applicable to proceedings commenced or continuing after the
adoption of the Bye-laws, whether arising from acts or omissions occurring
before or after such adoption.&nbsp; Any repeal or modification of the
foregoing provisions of Section 33 of the Bye-laws shall not adversely affect
any right or protection existing at the time of such repeal or modification.</font></p>

<p style="line-height:normal;margin:0pt 0pt 12.0pt;text-indent:54.0pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">Insurance is maintained on a regular
basis against liabilities arising on the part of directors and officers out of
their performance in such capacities or arising on the part of the Registrant
out of its foregoing indemnification provisions, subject to certain exclusions
and to the policy limits.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;line-height:normal;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">ITEM 7.</font><font size="1" style="background:white;font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="background:white;">EXEMPTION FROM REGISTRATION CLAIMED.</font></p>

<p style="line-height:normal;margin:0pt 0pt 12.0pt;text-indent:54.0pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">Not applicable.</font></p>


 <p style="font-size:10.0pt;line-height:normal;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">4</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="font-family:Times New Roman;font-size:10.0pt;line-height:normal;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">ITEM 8.</font><font size="1" style="background:white;font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="background:white;">EXHIBITS.&nbsp; </font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:10.36%;">
  <p align="left" style="font-size:8.0pt;font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:left;"><!-- SET mrlNoTableShading -->EXHIBIT<br>
  NUMBER</p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="87%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:87.26%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">DOCUMENT<br>
  DESCRIPTION</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="10%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:10.36%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:87.26%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.36%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.1</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:87.26%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Memorandum of Association of OneBeacon Insurance
  Group, Ltd. (incorporated by reference to Exhibit&nbsp;No.&nbsp;3.1 of the
  Form S-1, Registration Statement 333-136287).</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.36%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:87.26%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.36%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.2</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:87.26%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Specimen Class A common share certificate
  (incorporated by reference to Exhibit&nbsp;4.1 of the Form S-1, Registration
  Statement 333-136287).</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.36%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:87.26%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.36%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.3</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:87.26%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">OneBeacon 2007 Long-Term Incentive Plan
  (incorporated by reference to the Company&#146;s Proxy Statement on Schedule 14A
  filed with the Commission on April 6, 2007).</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.36%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:87.26%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.36%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.4</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:87.26%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Bye-laws of OneBeacon Insurance Group, Ltd.
  (incorporated by reference to Exhibit&nbsp;3.2 of the Form S-1, Registration
  Statement 333-136287).</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.36%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:87.26%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.36%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.1</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:87.26%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Opinion of Conyers Dill &amp; Pearman as to the
  legality of the securities being issued.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.36%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:87.26%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.36%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23.1</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:87.26%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consent of PricewaterhouseCoopers LLP.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.36%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:87.26%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.36%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23.2</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:87.26%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consent of Conyers Dill &amp; Pearman (included in
  Exhibit 5.1).</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.36%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:87.26%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.36%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">24</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:87.26%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Powers of Attorney (included as part of the
  signature pages).</font></p>
  </td>
 </tr>
</table>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;line-height:normal;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">ITEM 9.</font><font size="1" style="background:white;font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="background:white;">UNDERTAKINGS.</font></p>

<h3 style="font-family:Times New Roman;font-size:10.0pt;font-weight:normal;line-height:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">(a)</font><font size="1" style="background:white;font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="background:white;">The undersigned registrant
hereby undertakes:</font></h3>

<h4 style="font-family:Times New Roman;font-size:10.0pt;font-weight:normal;line-height:normal;margin:0pt 0pt 12.0pt 72.0pt;page-break-after:avoid;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">(1)</font><font size="1" style="background:white;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="background:white;">To file, during any period in which offers or sales
are being made, a post-effective amendment to this Registration Statement:</font></h4>

<h4 style="font-family:Times New Roman;font-size:10.0pt;font-weight:normal;line-height:normal;margin:0pt 0pt 12.0pt 97.2pt;page-break-after:avoid;text-indent:-25.2pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">(i)</font><font size="1" style="background:white;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="background:white;">To include any prospectus required by section 10(a)(3)
of the Securities Act of 1933;</font></h4>

<h5 style="font-family:Times New Roman;font-size:10.0pt;font-weight:normal;line-height:normal;margin:0pt 0pt 12.0pt 97.2pt;page-break-after:avoid;text-indent:-25.2pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">(ii)</font><font size="1" style="background:white;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="background:white;">To reflect in the prospectus any
facts or events arising after the effective date of the Registration Statement
(or the most recent post-effective amendment thereof) which, individually or in
the aggregate, represent a fundamental change in the information set forth in
the Registration Statement.&nbsp; Notwithstanding the foregoing, any increase
or decrease in volume of securities offered (if the total dollar value of
securities offered would not exceed that which is registered) and any deviation
from the low or high of the estimated maximum range may</font></h5>


 <p style="font-size:10.0pt;line-height:normal;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">5</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<h5 style="font-weight:normal;line-height:normal;margin:0pt 0pt 12.0pt 97.2pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">be
reflected in the form of prospectus filed with the Commission pursuant to Rule
424(b) if, in the aggregate, the changes in volume and price represent no more
than 20 percent change in the maximum aggregate offering price set forth in &#147;Calculation
of Registration Fee&#148; table in the effective registration statement; and</font></h5>

<h5 style="font-family:Times New Roman;font-size:10.0pt;font-weight:normal;line-height:normal;margin:0pt 0pt 12.0pt 97.2pt;page-break-after:avoid;text-indent:-25.2pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">(iii)</font><font size="1" style="background:white;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="background:white;">To
include any material information with respect to the plan of distribution not
previously disclosed in the Registration Statement or any material change to
such information in the Registration Statement;</font></h5>

<p style="line-height:normal;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">Provided, however, that paragraphs
(a)(1)(i) and (a)(1)(ii) do not apply if the information required to be
included in a post-effective amendment by those paragraphs is contained in
reports filed with or furnished to the Securities and Exchange Commission by
the Registrant pursuant to Section 13 or 15(d) of the Exchange Act that are
incorporated by reference in the Registration Statement.</font></p>

<h4 style="font-family:Times New Roman;font-size:10.0pt;font-weight:normal;line-height:normal;margin:0pt 0pt 12.0pt 61.2pt;page-break-after:avoid;text-indent:-25.2pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">(2)</font><font size="1" style="background:white;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="background:white;">That, for the purpose of
determining any liability under the Securities Act of 1933, each such
post-effective amendment shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof.</font></h4>

<h4 style="font-family:Times New Roman;font-size:10.0pt;font-weight:normal;line-height:normal;margin:0pt 0pt 12.0pt 61.2pt;page-break-after:avoid;text-indent:-25.2pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">(3)</font><font size="1" style="background:white;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="background:white;">To remove from
registration by means of a post-effective amendment any of the securities being
registered which remain unsold at the termination of the offering.</font></h4>

<p style="font-family:Times New Roman;font-size:10.0pt;line-height:normal;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">(b)</font><font size="1" style="background:white;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="background:white;">The undersigned registrant hereby undertakes that, for
purposes of determining any liability under the Securities Act of 1933, each
filing of the registrant&#146;s annual report pursuant to section 13(a) or section
15(d) of the Securities Exchange Act of 1934 (and, where applicable, each
filing of an employee benefit plan&#146;s annual report pursuant to section 15(d) of
the Securities Exchange Act of 1934) that is incorporated by reference in the
Registration Statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;line-height:normal;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">(c)</font><font size="1" style="background:white;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="background:white;">Insofar as indemnification
for liabilities arising under the Securities Act of 1933 may be permitted to
directors, officers and controlling persons of the registrant pursuant to the
foregoing provisions, or otherwise, the registrant has been advised that in the
opinion of the Securities and Exchange Commission such indemnification is
against public policy as expressed in the Securities Act of 1933 and is,
therefore, unenforceable. In the event that a claim for indemnification against
such liabilities (other than the payment by the registrant of expenses incurred
or paid by a director, officer or controlling person of the registrant in the
successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being
registered, the</font></p>


 <p style="font-size:10.0pt;line-height:normal;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">6</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="line-height:normal;margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">registrant will, unless in
the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the
Securities Act of 1933 and will be governed by the final adjudication of such
issue.</font></p>


 <p style="font-size:10.0pt;line-height:normal;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">7</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p align="center" style="line-height:normal;margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;font-weight:bold;">SIGNATURES</font></b></p>

<p style="line-height:normal;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">Pursuant to the requirements of the
Securities Act of 1933, the Registrant certifies that it has reasonable grounds
to believe that it meets all of the requirements for filing on Form S-8 and has
duly caused this Registration Statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in Hamilton, Bermuda, on May 22, 2007.</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="49%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.24%;">
  <p style="font-size:10.0pt;line-height:normal;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading --></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.62%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ONEBEACON INSURANCE GROUP,<br>
  LTD.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="49%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.24%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.62%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="49%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.24%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.62%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By</font></p>
  </td>
  <td width="34%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:34.44%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Ann Marie Andrews</font></p>
  </td>
  <td width="13%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:13.7%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="49%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.24%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.62%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name: Ann Marie Andrews</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="49%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.24%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.62%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title: Chief Accounting Officer</font></p>
  </td>
 </tr>
</table>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="line-height:normal;margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;font-weight:bold;">POWER OF ATTORNEY</font></b></p>

<p style="line-height:normal;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">We, the undersigned directors and
officers of OneBeacon Insurance Group, Ltd., do hereby constitute and appoint
each of Paul H. McDonough and Ann Marie Andrews, his or her true and lawful
attorney-in-fact and agent with full power of substitution and resubstitution,
to do any and all acts and things in our name and on our behalf in our
capacities as directors and officers and to execute any and all instruments for
us and in our names in the capacities indicated below, which said
attorney-in-fact and agent may deem necessary or advisable to enable said
registrant to comply with the Securities Act of 1933 and any rules, regulations
and requirements of the Securities and Exchange Commission, in connection with
this Registration Statement, including specifically, but without limitation,
power and authority to sign for us or any of us in our names in the capacities
indicated below, any and all amendments (including post-effective amendments
and any related registration statement pursuant to Rule&nbsp;462(b) under the
Securities Act of 1933) hereto and we do hereby ratify and confirm all that
said attorney-in-fact and agent shall do or cause to be done by virtue hereof.</font></p>

<p style="line-height:normal;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;">Pursuant to the requirements of the
Securities Act of 1933, this Registration Statement has been signed below by
the following persons in the capacities and on the dates indicated. </font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:22.7%;">
  <p align="left" style="font-size:8.0pt;font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:left;"><!-- SET mrlNoTableShading -->Signature</p>
  </td>
  <td width="4%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:4.4%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="52%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Title</font></b></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Date</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:22.7%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.4%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:22.7%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ T. Michael
  Miller</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.4%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Director and Chief<br>
  Executive Officer<br>
  (Principal Executive<br>
  Officer)</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">May 22, 2007</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:22.7%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;T.
  Michael Miller</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.4%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>


 <p style="font-size:10.0pt;line-height:normal;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">8</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<br clear="all" style="page-break-before:always;">



<p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:22.94%;">
  <p style="font-size:10.0pt;line-height:normal;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading -->/s/ Paul H. McDonough</p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.16%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chief Financial Officer<br>
  (Principal Financial<br>
  Officer)</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">May 22, 2007</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:22.94%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Paul
  H. McDonough</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.16%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:22.94%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.16%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:22.94%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Ann Marie
  Andrews</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.16%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chief Accounting Officer<br>
  (Principal Accounting<br>
  Officer)</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">May 22, 2007</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:22.94%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ann
  Marie Andrews</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.16%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:22.94%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.16%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:22.94%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Paul H.
  McDonough</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.16%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Director, Chairman of the<br>
  Board</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">May 22, 2007</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:22.94%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lowndes
  A. Smith*</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.16%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:22.94%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.16%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:22.94%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Paul H.
  McDonough</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.16%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Director</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">May 22, 2007</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:22.94%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reid
  T. Campbell*</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.16%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:22.94%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.16%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:22.94%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Paul H.
  McDonough</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.16%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Director</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">May 22, 2007</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:22.94%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan
  W. Davis*</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.16%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:22.94%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.16%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:22.94%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Paul H.
  McDonough</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.16%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Director</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">May 22, 2007</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:22.94%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;David
  T. Foy*</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.16%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:22.94%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.16%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:22.94%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Paul H.
  McDonough</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.16%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Director</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">May 22, 2007</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:22.94%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lois
  W. Grady*</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.16%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:22.94%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.16%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:22.94%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Paul H.
  McDonough</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.16%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Director</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">May 22, 2007</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:22.94%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Richard
  P. Howard*</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.16%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:22.94%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.16%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:22.94%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Paul H.
  McDonough</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.16%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Director</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">May 22, 2007</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:22.94%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Robert
  R. Lusardi*</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.16%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:22.94%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.16%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:22.94%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Paul H.
  McDonough</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.16%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Director</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">May 22, 2007</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:22.94%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kent
  D. Urness*</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.16%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:22.94%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.16%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:22.94%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Paul H.
  McDonough</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.16%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Director</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">May 22, 2007</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:22.94%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allan
  L. Waters*</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.16%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:22.94%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.16%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:22.94%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Paul H.
  McDonough</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.16%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Authorized Representative</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">May 22, 2007</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:22.94%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Paul
  H. McDonough</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.16%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">in the United States</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:22.94%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.16%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="line-height:normal;margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.28%;">
  <p style="font-size:10.0pt;line-height:normal;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading -->*By:</p>
  </td>
  <td width="22%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:22.82%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Paul H. McDonough</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0.375pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;Attorney-in-fact</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">May 22, 2007</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="4%" valign="top" style="border:none;border-top:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:4.28%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:22.82%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Paul H. McDonough</font></p>
  </td>
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.14%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.84%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.9%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>


 <p style="font-size:10.0pt;line-height:normal;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">9</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='9',FILE='C:\fc\149111841189_D11086_2154477\14747-1-bg.htm',USER='jmsproofassembler',CD='May 29 11:18 2007' -->
<br clear="all" style="page-break-before:always;">



<p align="center" style="line-height:normal;margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="background:white;font-size:10.0pt;font-weight:bold;">EXHIBIT INDEX</font></b></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:10.36%;">
  <p align="left" style="font-size:8.0pt;font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:left;"><!-- SET mrlNoTableShading -->EXHIBIT<br>
  NUMBER</p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="87%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:87.26%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">DOCUMENT<br>
  DESCRIPTION</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="10%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:10.36%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:87.26%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.36%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.1</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:87.26%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Memorandum of Association of OneBeacon Insurance
  Group, Ltd. (incorporated by reference to Exhibit&nbsp;No.&nbsp;3.1 of the
  Form S-1, Registration Statement 333-136287).</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.36%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:87.26%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.36%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.2</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:87.26%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Specimen Class A common share certificate
  (incorporated by reference to Exhibit&nbsp;4.1 of the Form S-1, Registration
  Statement 333-136287).</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.36%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:87.26%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.36%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.3</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:87.26%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">OneBeacon 2007 Long-Term Incentive Plan
  (incorporated by reference to the Company&#146;s Proxy Statement on Schedule 14A filed
  with the Commission on April 6, 2007).</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.36%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:87.26%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.36%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.4</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:87.26%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Bye-laws of OneBeacon Insurance Group, Ltd.
  (incorporated by reference to Exhibit&nbsp;3.2 of the Form S-1, Registration
  Statement 333-136287).</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.36%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:87.26%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.36%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.1</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:87.26%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Opinion of Conyers Dill &amp; Pearman as to the
  legality of the securities being issued.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.36%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:87.26%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.36%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23.1</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:87.26%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consent of PricewaterhouseCoopers LLP.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.36%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:87.26%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.36%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23.2</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:87.26%;">
  <p style="line-height:normal;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consent of Conyers Dill &amp; Pearman (included in
  Exhibit 5.1).</font></p>
  </td>
 </tr>
</table>

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{"company-data": {"conformed-name": "OneBeacon Insurance Group, Ltd.", "cik": "0001369817", "assigned-sic": "6331", "irs-number": "000000000", "state-of-incorporation": "D0", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-143343", "film-number": "07884662"}, "business-address": {"street1": "1 BEACON LANE", "city": "CANTON", "state": "MA", "zip": "02021", "phone": "7813327000"}, "mail-address": {"street1": "1 BEACON LANE", "city": "CANTON", "state": "MA", "zip": "02021"}, "former-company": {"former-conformed-name": "OneBeacon Holdings (Bermuda) Ltd.", "date-changed": "20060721"}}
AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON MAY 29, 2007
REGISTRATION NO. 333-
UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
ONEBEACON INSURANCE
GROUP, LTD.
(Exact
Name of Registrant as Specified in Its Charter)
Bermuda
98-0503315
(State or Other
  Jurisdiction of Incorporation or
Organization)
(I.R.S. Employer
  Identification No.)
601
  Carlson Parkway
Minnetonka,
  MN 55305
(952)
  852-2431
(Address,
  including zip code and telephone number, of principal executive offices)
ONEBEACON 2007
LONG-TERM INCENTIVE PLAN
(Full
Titles of the Plan)
Jennifer E. Lawrence, Esq.
OneBeacon Insurance Group LLC
One Beacon Lane
Canton, MA 02021
(781) 332-1000
(Name, Address, and Telephone
Number, Including Area Code, of Agent for Service)
CALCULATION OF REGISTRATION FEE
Title of securities to be
registered
Amount to be
registered(1)
Proposed maximum
offering price per share
Proposed maximum
aggregate offering price
Amount of
registration fee
Class A Common Shares,
  par value $0.01 per share
15,000,000
$24.425
(2)
$366,375,000
(2)
$11,247.71
(2)
(1)
Represents the authorized
number of Common Shares as to which equity-based compensation may be granted
under the OneBeacon 2007 Long Term Incentive Plan.
(2)
Estimated
solely for the purpose of calculating the registration fee pursuant to Rule
457(h) and (c) under the Securities Act of 1933, the proposed maximum offering
price per share, the proposed maximum aggregate offering price and the amount
of the registration fee have been computed on the basis of the average of the
high and low price per common share as reported on the New York Stock Exchange
on May 21, 2007.
PART I
INFORMATION
REQUIRED IN THE SECTION 10(A) PROSPECTUS
ITEM 1.
PLAN INFORMATION.
All information required by Part I to
be contained in the Section 10(a) prospectus is omitted from this Registration
Statement in accordance with Rule 428 under the Securities Act of 1933, as
amended (the "Securities Act"), and the Note to Part I of Form S-8.
ITEM 2.
REGISTRANT INFORMATION AND EMPLOYEE PLAN ANNUAL
INFORMATION.
All information required by Part I to
be contained in the Section 10(a) prospectus is omitted from this Registration
Statement in accordance with Rule 428 under the Securities Act and the Note to
Part I of Form S-8.
PART II
INFORMATION
REQUIRED IN THE REGISTRATION STATEMENT
ITEM 3.
INCORPORATION OF DOCUMENTS BY REFERENCE.
The following documents previously
filed with the Securities and Exchange Commission (the "Commission") by
OneBeacon Insurance Group, Ltd. (the "Registrant") pursuant to the Securities
Act of 1933 (the "Securities Act") and the Securities Exchange Act of 1934 (the
"Exchange Act") are incorporated by reference herein and shall be deemed a part
hereof:  (1) the Registrant's Annual Report on Form 10-K for the fiscal
year ended December 31, 2006 filed with the Commission on February 28, 2007;
(2) the Registrant's Quarterly Report on Form 10-Q for the quarter ended March
31, 2007 filed with the Commission on May 2, 2007; (3) Current Reports on Form
8-K filed with the Commission on February 2, 2007, February 5, 2007, February
22, 2007, February 26, 2007, March 1, 2007, April 3, 2007, and May 2, 2007; and
(2) the description of the Registrant's Common Shares contained in our
Registration Statement on Form S-1 (Reg. No. 333-136287), filed pursuant to
Section 12 of the Exchange Act with the Securities and Exchange Commission on
August 4, 2006, as amended, including any form of prospectus contained therein
filed pursuant to Rule 424(b) under the Securities Act of 1933 (the "Registration
Statement"), which description is incorporated herein by reference.
All documents filed by the Registrant
pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act after the
date hereof and prior to the filing of a post-effective amendment which
indicates that all securities offered have been sold or which deregisters all
securities then remaining unsold, shall be deemed to be incorporated by
reference herein and to be a part hereof from the date of filing of such
documents.
2
Any statement contained in this
Registration Statement, in an amendment hereto or in a document incorporated or
deemed to be incorporated by reference herein shall be deemed to be modified or
superseded for purposes of this Registration Statement to the extent that a
statement contained herein or in any subsequently filed amendment to this
Registration Statement or in any document that also is or is deemed to be
incorporated by reference herein modifies or supersedes such statement. 
Any statement so modified or superseded shall not be deemed, except as so
modified or superseded, to constitute a part of this Registration Statement.
ITEM 4.
DESCRIPTION OF SECURITIES.
Not applicable.
ITEM 5.
INTERESTS OF NAMED EXPERTS AND COUNSEL.
Not applicable.
ITEM 6.
INDEMNIFICATION OF DIRECTORS AND OFFICERS.
The Registrant is a Bermuda exempted
limited liability company. Section 98 of the Companies Act 1981 of Bermuda
(the "Companies Act") provides generally that a Bermuda company may indemnify
its directors, officers and auditors against any liability which by virtue of
any rule of law would otherwise be imposed on them in respect of any
negligence, default, breach of duty or breach of trust, except in cases where
such liability arises from fraud or dishonesty of which such director, officer
or auditor may be guilty in relation to the company. Section 98 further
provides that a Bermuda company may indemnify its directors, officers and
auditors against any liability incurred by them in defending any proceedings,
whether civil or criminal, in which judgment is awarded in their favor or in
which they are acquitted or granted relief by the Supreme Court of Bermuda
pursuant to section 281 of the Companies Act.
Section 33 of the Registrant's
Bye-laws (the "Bye-laws") provides that the Registrant will indemnify its
officers and directors to the fullest extent possible under the Companies
Act.  Without limiting the foregoing, the directors, secretary and other
officers (including any alternate director or any person appointed to any
committee by the board of directors or any person who is or was serving at the
request of the Registrant as a director, officer, employee or agent of another
corporation, partnership, joint venture, trust or other enterprise (including,
without limitation, any employee benefit plan)) and every one of them, and
their heirs, executors and administrators, shall be indemnified and secured harmless
out of the assets of the Registrant from and against all actions, costs,
charges, losses, damages and expenses which they or any of them, their heirs,
executors or administrators, shall or may incur or sustain by or by reason of
any act done, concurred in or omitted (actual or alleged) in or about the
execution of their duty, or supposed duty, or in their respective offices or
trusts, and none of them shall be answerable for the acts, receipts, neglects
or defaults of the others of them or for joining in any receipts for the sake
of conformity, or for any bankers or other persons with whom any moneys or
effects belonging to the Registrant shall or may be lodged or deposited for
safe custody, or for
3
insufficiency or deficiency of any
security upon which any moneys of or belonging to the Registrant shall be
placed out on or invested, or for any other loss, misfortune or damage which
may happen in the execution of their respective offices or trusts, or in
relation thereto, provided that this indemnity shall not extend to any matter
in respect of which such person is, or may be, found guilty of fraud or
dishonesty.
The Registrant may purchase and
maintain insurance to protect itself and any director, officer or other person
entitled to indemnification pursuant to the Bye-laws to the fullest extent
permitted by law.
All reasonable expenses incurred by
or on behalf of any person entitled to indemnification pursuant to Section 33
of the Bye-laws in connection with any proceeding shall be advanced to such
person by the Registrant within twenty (20) business days after the receipt by
the Registrant of a statement or statements from such person requesting such
advance or advances from time to time, whether prior to or after final
disposition of such proceeding.  Such statement or statements shall
reasonably evidence the expenses incurred by such person and, if required by
law or requested by the Registrant at the time of such advance, shall include
or be accompanied by an undertaking by or on behalf of such person to repay the
amounts advanced if it should ultimately be determined that such person is not
entitled to be indemnified against such expenses pursuant to the Bye-laws.
The right of indemnification and
advancement of expenses provided in the Bye-laws shall not be exclusive of any
other rights to which those seeking indemnification may otherwise be entitled,
and the provisions of the Bye-laws shall inure to the benefit of the heirs and
legal representatives of any person entitled to indemnity under the Bye-laws
and shall be applicable to proceedings commenced or continuing after the
adoption of the Bye-laws, whether arising from acts or omissions occurring
before or after such adoption.  Any repeal or modification of the
foregoing provisions of Section 33 of the Bye-laws shall not adversely affect
any right or protection existing at the time of such repeal or modification.
Insurance is maintained on a regular
basis against liabilities arising on the part of directors and officers out of
their performance in such capacities or arising on the part of the Registrant
out of its foregoing indemnification provisions, subject to certain exclusions
and to the policy limits.
ITEM 7.
EXEMPTION FROM REGISTRATION CLAIMED.
Not applicable.
4
ITEM 8.
EXHIBITS.
EXHIBIT
NUMBER
DOCUMENT
DESCRIPTION
4.1
Memorandum of Association of OneBeacon Insurance
  Group, Ltd. (incorporated by reference to Exhibit No. 3.1 of the
  Form S-1, Registration Statement 333-136287).
4.2
Specimen Class A common share certificate
  (incorporated by reference to Exhibit 4.1 of the Form S-1, Registration
  Statement 333-136287).
4.3
OneBeacon 2007 Long-Term Incentive Plan
  (incorporated by reference to the Company's Proxy Statement on Schedule 14A
  filed with the Commission on April 6, 2007).
4.4
Bye-laws of OneBeacon Insurance Group, Ltd.
  (incorporated by reference to Exhibit 3.2 of the Form S-1, Registration
  Statement 333-136287).
5.1
Opinion of Conyers Dill & Pearman as to the
  legality of the securities being issued.
23.1
Consent of PricewaterhouseCoopers LLP.
23.2
Consent of Conyers Dill & Pearman (included in
  Exhibit 5.1).
24
Powers of Attorney (included as part of the
  signature pages).
ITEM 9.
UNDERTAKINGS.
(a)
The undersigned registrant
hereby undertakes:
(1)
To file, during any period in which offers or sales
are being made, a post-effective amendment to this Registration Statement:
(i)
To include any prospectus required by section 10(a)(3)
of the Securities Act of 1933;
(ii)
To reflect in the prospectus any
facts or events arising after the effective date of the Registration Statement
(or the most recent post-effective amendment thereof) which, individually or in
the aggregate, represent a fundamental change in the information set forth in
the Registration Statement.  Notwithstanding the foregoing, any increase
or decrease in volume of securities offered (if the total dollar value of
securities offered would not exceed that which is registered) and any deviation
from the low or high of the estimated maximum range may
5
be
reflected in the form of prospectus filed with the Commission pursuant to Rule
424(b) if, in the aggregate, the changes in volume and price represent no more
than 20 percent change in the maximum aggregate offering price set forth in "Calculation
of Registration Fee" table in the effective registration statement; and
(iii)
To
include any material information with respect to the plan of distribution not
previously disclosed in the Registration Statement or any material change to
such information in the Registration Statement;
Provided, however, that paragraphs
(a)(1)(i) and (a)(1)(ii) do not apply if the information required to be
included in a post-effective amendment by those paragraphs is contained in
reports filed with or furnished to the Securities and Exchange Commission by
the Registrant pursuant to Section 13 or 15(d) of the Exchange Act that are
incorporated by reference in the Registration Statement.
(2)
That, for the purpose of
determining any liability under the Securities Act of 1933, each such
post-effective amendment shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof.
(3)
To remove from
registration by means of a post-effective amendment any of the securities being
registered which remain unsold at the termination of the offering.
(b)
The undersigned registrant hereby undertakes that, for
purposes of determining any liability under the Securities Act of 1933, each
filing of the registrant's annual report pursuant to section 13(a) or section
15(d) of the Securities Exchange Act of 1934 (and, where applicable, each
filing of an employee benefit plan's annual report pursuant to section 15(d) of
the Securities Exchange Act of 1934) that is incorporated by reference in the
Registration Statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof.
(c)
Insofar as indemnification
for liabilities arising under the Securities Act of 1933 may be permitted to
directors, officers and controlling persons of the registrant pursuant to the
foregoing provisions, or otherwise, the registrant has been advised that in the
opinion of the Securities and Exchange Commission such indemnification is
against public policy as expressed in the Securities Act of 1933 and is,
therefore, unenforceable. In the event that a claim for indemnification against
such liabilities (other than the payment by the registrant of expenses incurred
or paid by a director, officer or controlling person of the registrant in the
successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being
registered, the
6
registrant will, unless in
the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the
Securities Act of 1933 and will be governed by the final adjudication of such
issue.
7
SIGNATURES
Pursuant to the requirements of the
Securities Act of 1933, the Registrant certifies that it has reasonable grounds
to believe that it meets all of the requirements for filing on Form S-8 and has
duly caused this Registration Statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in Hamilton, Bermuda, on May 22, 2007.
ONEBEACON INSURANCE GROUP,
LTD.
By
/s/ Ann Marie Andrews
Name: Ann Marie Andrews
Title: Chief Accounting Officer
POWER OF ATTORNEY
We, the undersigned directors and
officers of OneBeacon Insurance Group, Ltd., do hereby constitute and appoint
each of Paul H. McDonough and Ann Marie Andrews, his or her true and lawful
attorney-in-fact and agent with full power of substitution and resubstitution,
to do any and all acts and things in our name and on our behalf in our
capacities as directors and officers and to execute any and all instruments for
us and in our names in the capacities indicated below, which said
attorney-in-fact and agent may deem necessary or advisable to enable said
registrant to comply with the Securities Act of 1933 and any rules, regulations
and requirements of the Securities and Exchange Commission, in connection with
this Registration Statement, including specifically, but without limitation,
power and authority to sign for us or any of us in our names in the capacities
indicated below, any and all amendments (including post-effective amendments
and any related registration statement pursuant to Rule 462(b) under the
Securities Act of 1933) hereto and we do hereby ratify and confirm all that
said attorney-in-fact and agent shall do or cause to be done by virtue hereof.
Pursuant to the requirements of the
Securities Act of 1933, this Registration Statement has been signed below by
the following persons in the capacities and on the dates indicated.
Signature
Title
Date
/s/ T. Michael
  Miller
Director and Chief
Executive Officer
(Principal Executive
Officer)
May 22, 2007
T.
  Michael Miller
8
/s/ Paul H. McDonough
Chief Financial Officer
(Principal Financial
Officer)
May 22, 2007
Paul
  H. McDonough
/s/ Ann Marie
  Andrews
Chief Accounting Officer
(Principal Accounting
Officer)
May 22, 2007
Ann
  Marie Andrews
/s/ Paul H.
  McDonough
Director, Chairman of the
Board
May 22, 2007
Lowndes
  A. Smith*
/s/ Paul H.
  McDonough
Director
May 22, 2007
Reid
  T. Campbell*
/s/ Paul H.
  McDonough
Director
May 22, 2007
Morgan
  W. Davis*
/s/ Paul H.
  McDonough
Director
May 22, 2007
David
  T. Foy*
/s/ Paul H.
  McDonough
Director
May 22, 2007
Lois
  W. Grady*
/s/ Paul H.
  McDonough
Director
May 22, 2007
Richard
  P. Howard*
/s/ Paul H.
  McDonough
Director
May 22, 2007
Robert
  R. Lusardi*
/s/ Paul H.
  McDonough
Director
May 22, 2007
Kent
  D. Urness*
/s/ Paul H.
  McDonough
Director
May 22, 2007
Allan
  L. Waters*
/s/ Paul H.
  McDonough
Authorized Representative
May 22, 2007
Paul
  H. McDonough
in the United States
*By:
/s/ Paul H. McDonough
Attorney-in-fact
May 22, 2007
Paul H. McDonough
9
EXHIBIT INDEX
EXHIBIT
NUMBER
DOCUMENT
DESCRIPTION
4.1
Memorandum of Association of OneBeacon Insurance
  Group, Ltd. (incorporated by reference to Exhibit No. 3.1 of the
  Form S-1, Registration Statement 333-136287).
4.2
Specimen Class A common share certificate
  (incorporated by reference to Exhibit 4.1 of the Form S-1, Registration
  Statement 333-136287).
4.3
OneBeacon 2007 Long-Term Incentive Plan
  (incorporated by reference to the Company's Proxy Statement on Schedule 14A filed
  with the Commission on April 6, 2007).
4.4
Bye-laws of OneBeacon Insurance Group, Ltd.
  (incorporated by reference to Exhibit 3.2 of the Form S-1, Registration
  Statement 333-136287).
5.1
Opinion of Conyers Dill & Pearman as to the
  legality of the securities being issued.
23.1
Consent of PricewaterhouseCoopers LLP.
23.2
Consent of Conyers Dill & Pearman (included in
  Exhibit 5.1).
10