QBE Acquires CIGNA Student, Sports Accident Book

September 16, 2009

New York-based QBE has acquired the CIGNA special risk, student and sports accident insurance book of business. This portfolio provides medical expense coverage for students, athletes and participants in camps, clubs, day care centers and a broad range of other youth and adult group activities.

Key members of CIGNA’s existing specialty accident unit are joining QBE and relocating to a new office in Plymouth Meeting, Pa. QBE is retaining CIGNA’s current managing general agents and third party administrators. They will work with QBE Specialty’s New York-based health team, directed by senior vice president, Thomas Leonardo.

QBE Specialty Insurance offers distinct niche programs for specific industries or business segments. QBE Specialty Insurance partners with retail program administrators and more than 80 managing general agents (MGAs), and writes in all 50 states. It recorded gross written premium of more than $1.5 billion in 2008.

Source: QBE Insurance Group Limited,
www.qbe.com

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