Australia’s QBE Insurance expanded its Latin American presence with the purchase of Argentina’s HIH Aseguradora de Riesgos del Trabajo from HIH, and three other South American insurers from the U.S.’s financially troubled Reliance Group.
QBE paid around $25 million to acquire the four insurers, and is currently seeking to raise additional funds to pay for the acquisition of HIH’s corporate business in a deal negotiated with its provisional liquidator. It’s currently seeking around $150 million in additional capital to fund these purchase and for future expansion.
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
The Big Dog Is Off the Tech Porch: State Farm as ‘Next Gen Good Neighbor’ 
Safepoint Exec Pay, Slide’s Stock Sell-Offs Getting Attention in Florida 
US Personal Lines Insurers Ask for Less Rate After Period of Catch-Up 
Viewpoint: ‘Big Tobacco’ Moment for Cannabis – What to Know About Murray v. Cresco 
