Australia’s QBE announced that it has completed its acquisition of the U.S. admitted insurance businesses of Renaissance Re, which include a U.S. crop and small specialist program insurance business.
QBE said the acquisition supports its “commitment to growing the business through product diversification and new distribution channels, and strengthens its position as a leading insurer in the United States.”
QBE also noted that its Americas Division, headquartered in New York, “conducts business through various property and casualty insurance subsidiaries in 10 countries. QBE’s Americas Division produced $5.2 billion in gross written premium in 2010 and an 89.7 percent combined operating ratio.”
Source: QBE
Topics Mergers & Acquisitions USA
Was this article valuable?
Here are more articles you may enjoy.
CFC Owners Said to Tap Banks for Sale, IPO of £5 Billion Insurer 
Viewpoint: Runoff Specialists Have Evolved Into Key Strategic Partners for Insurers 
Former Broker, Co-Defendant Sentenced to 20 Years in Fraudulent ACA Sign-Ups 
State Farm Adjuster’s Opinion Does Not Override Policy Exclusion in MS Sewage Backup 
