Read the sentence again. QBE is selling it’s US AGENCY business. With all of the QBE acquisitions, QBE has also acquired several MGA’s or agencies that sell some of their programs. These agencies will be sold. This really doesn’t have anything to do with the QBE Middle Market underwriting companies.
I have to laugh. Idiots from the small Wisconsin Regionals are already misreading this and starting to fire up the rumors. Just had one in my office insisting that QBE is about to sell our largest carrier. I threw him out, and told him to come back when he knew something positive, AND correct. My local QBE branch has the best staff of all carriers we work with. Other carriers could take a lesson.
Hey Chuckles, if today’s General Casualty is the best company in your office, you have my condolances. Since QBE came in, they have hemorraged so much good business, it’s insane. Even in Wisconsin, their home state, their commercial lines book is down over 37% in two years in a growing market. I’m willing to bet that those “idiots” you refer to can boast much better results than that.
And QBE did announce that they were going to sell their mid-market business in the U.S. although they just recently backed off of that.
General Casualty was a great company, but QBE thought they knew better and ruined a good thing. It’s a shame, actually.
The first sentence of the third paragraph of this story begins with the phrase “QBE will also sell it’s U.S. Agency business”.
Does anyone know exactly what this is referring to?
I think it is referring to Unigard Insurance Company that QBE bought several years ago.
Read the sentence again. QBE is selling it’s US AGENCY business. With all of the QBE acquisitions, QBE has also acquired several MGA’s or agencies that sell some of their programs. These agencies will be sold. This really doesn’t have anything to do with the QBE Middle Market underwriting companies.
I have to laugh. Idiots from the small Wisconsin Regionals are already misreading this and starting to fire up the rumors. Just had one in my office insisting that QBE is about to sell our largest carrier. I threw him out, and told him to come back when he knew something positive, AND correct. My local QBE branch has the best staff of all carriers we work with. Other carriers could take a lesson.
Hey Chuckles, if today’s General Casualty is the best company in your office, you have my condolances. Since QBE came in, they have hemorraged so much good business, it’s insane. Even in Wisconsin, their home state, their commercial lines book is down over 37% in two years in a growing market. I’m willing to bet that those “idiots” you refer to can boast much better results than that.
And QBE did announce that they were going to sell their mid-market business in the U.S. although they just recently backed off of that.
General Casualty was a great company, but QBE thought they knew better and ruined a good thing. It’s a shame, actually.