QBE Subsidiary Sterling National Corp. Acquires Seattle Specialty

September 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 Insurance Services has provided insurance services to financial institutions since 1992. It will operate as a wholly owned subsidiary of Sterling National, under the continued leadership of founder, president and CEO Rick Pedack.

Headquartered in Sydney, Australia, QBE operates out of 49 countries. The Americas Division, headquartered in New York, conducts business through various property and casualty insurance subsidiaries in eight countries.

Seattle Specialty Insurance Services specializes in lender-placed commercial and residential property, auto, and flood risks.

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