Zurich Financial Services Group announced that it has signed an agreement with Australia’s QBE Insurance (International) Limited for QBE to acquire 100 percent of the share capital of Zurich Insurance (Singapore) Pte. Ltd.
The parties announced that they have agreed to “keep the price confidential.” The transaction is expected to close by the end of June 2004, subject to approval by the Monetary Authority of Singapore.
Zurich said the sale of its Singapore business was in line with its strategy to focus on key markets. At the end of 2003, Zurich Singapore had gross written premiums of $35 million.
Banks Still Face Legal Claims After $25 Billion Settlement
MF Global Judge to Examine Insurance Payments for Former Executives
Daredevil CEOs May Put Companies at Risk
California Independent Contractor Law May Be Liability for Agents, Brokers
North Carolina Continues Auto Regulation Debate As Rates Stay Same for 2012
Long-time California Lobbyist Looks to 2012 Legislation Affecting Insurance
Mine Safety Chief Seeks to End Complacency Over Safety
Virginia Court Grants Rehearing of Global Warming Claims Case
