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 “transaction includes a long-term distribution agreement with Bank of America for lender placed and voluntary homeowners, contents, motor and other related consumer lines and associated services. In addition, the acquisition includes Balboa’s employees, systems and client relationships.”
QBE the Americas CEO John Rumpler commented: “The acquisition supports QBE’s commitment to growing the business through product diversification and new distribution channels. It also complements our current book of business and our high level of customer service.”
Source: QBE Insurance Group Limited
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
As US Residential Solar Industry Craters, Florida Bucks Trend 
Great American Escapes Coverage for Grocery’s Opioid Litigation Settlement 
American Family to Acquire Bowhead Specialty in $1.2B Cash Deal 
Cost of a Data Breach Reaches Record $5 Million on Average 
