Latest QBE Headlines
All the headlines from our QBE Topic Page, ordered by recency.
Best Removes Balboa Insurance and Members Ratings from ‘Under Review’
Oct 11 2011 // A.M. Best Co. has removed from under review with negative implications and affirmed the financial strength rating of ‘A’ (Excellent) and the issuer credit ratings of “a” of Balboa Insurance Group...
Ratings: Commerce Protective, Stonington/Lantana, Farmers Mutual, One Beacon Lloyd’s, Texas Medical
Sep 8 2011 // A.M. Best Co. has downgraded the financial strength rating to ‘B+’ (Good) from ‘B++’ (Good) and issuer credit rating to ‘bbb-‘ from ‘bbb’ of Pennsylvania-based Commerce...
Travelers UK Names Sawyer Professional Indemnity Manager
Sep 7 2011 // Travelers UK branch announced that David Sawyer has been appointed Assistant General Manager responsible for the management of the professional indemnity portfolio for Travelers Insurance Company Ltd. He joins Travelers...
QBE 1st Half Net Profits up 53% to US$673 Million
Aug 19 2011 // QBE, Australia’s global insurance group, announced a 53 percent increase in the half year net profit after tax of US$673 million. The group noted that this figure was “within the range provided to the market on...
QBE Innovation to be profiled at MarketScout’s Entrepreneurial Insurance Symposium
Aug 10 2011 // Impressive US growth has capture market’s attention DALLAS, August 10, 2011 – Rob Byler, President and Head of Program Business at QBE, will deliver a keynote presentation to over 400 insurance industry executives...
QBE Completes Acquisition of Balboa Insurance Portfolio
Jun 2 2011 // Australia’s QBE announced it has completed acquisition of Balboa’s Insurance portfolio, following the agreement with Balboa’s parent, Bank of America, to do so last February. QBE noted that the...
Business Moves
Mar 21 2011 // Maritime General Agency Maritime General Agency combined three niche marine insurance underwriting facilities into Maritime Program Group: Maritime General Agency, Marine MGA and Windward Marine Underwriters. Maritime...
QBE Completes Acquisition of RenRe’s U.S. Insurance Operations
Mar 8 2011 // 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...
QBE Group Posts $1.278 Billion 2010 Net Profit; $1.168 Billion Underwriting
Mar 1 2011 // The Australia-based QBE Group reported net after tax profits of *$1.278 billion for 2010, a 17 percent decrease from the $1.532 billion reported for 2009. However, the decline was almost entirely due to a drop in...
Business Moves
Feb 21 2011 // Mercury General, Florida Citing fourth quarter losses in Florida of $19 million, Mercury General said it would begin withdrawing from the state’s homeowners insurance market. The company will send the mandatory...
Best Sees No Change in QBE’s Rating from Balboa Buy
Feb 17 2011 // A.M. Best Europe – Rating Services Limited has commented that the rating of Australia’s QBE Insurance Group Limited is “unchanged following the announcement that it has entered into a ten-year distribution...
Best Sees No Effect on QBE’s Ratings from Balboa Deal
Feb 16 2011 // A.M. Best Co. has commented that the financial strength rating of ‘A’ (Excellent) and issuer credit ratings of “a” of the New York-based QBE Re Group – US and its members are unchanged following...
QBE Forms U.S. General Aviation Underwriting Group
Feb 4 2011 // QBE the Americas created a U.S.-based general aviation underwriting operation. Headquartered in Atlanta, QBE the Americas’ Aviation Team is designed to expand the company’s global aviation activities. QBE is...
BofA Sells Balboa Insurance Portfolio to Australia’s QBE
Feb 4 2011 // Bank of America agreed to offload its Balboa insurance portfolio to Australia’s QBE Insurance for more than $700 million, the latest in a string of asset sales by the U.S. lender as it recovers from the global credit...
No Comment from QBE on Report of Talks to Buy Balboa from BofA
Feb 3 2011 // QBE Insurance, Australia’s biggest insurance group, is in talks to buy U.S. insurer Balboa from Bank of America , a media report said on Thursday, sparking talk that QBE would have to sell new shares to help fund the...
Best Withdraws Ratings of Various QBE U.S. Subsidiaries Following Reorganization
Feb 2 2011 // A.M. Best Co. has withdrawn the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of Blue Ridge Insurance Company (BRIC) (Sun Prairie, WI), United Security...
Best, S&P Put RenRe’s U.S. Operations under Review/Negative
Nov 19 2010 // A.M. Best Co. and Standard & Poor’s Ratings Services have both placed their credit and financial strength ratings on RenaissanceRe’s U.S. insurance companies under review with negative implications. The...
RenaissanceRe to Sell U.S. Insurance Operations to QBE
Nov 18 2010 // Bermuda-based RenaissanceRe Holdings Ltd. announced that it has “entered into a definitive agreement with QBE Holdings, Inc. to sell its U.S. property and casualty business underwritten through managing general...
Best Affirms ‘A’ Ratings of QBE Insurance Group and Subsidiaries
Sep 30 2010 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength ratings of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a+” of UK-based QBE Insurance (Europe)...
QBE Subsidiary Sterling National Corp. Acquires Seattle Specialty
Sep 3 2010 // QBE today announced that its subsidiary, Sterling National Corp., has acquired Seattle Specialty Insurance Services Inc. Terms of the purchase were not disclosed. Headquartered in Everett, Wash., Seattle Specialty...
