A.M. Best Europe – Rating Services Limited has commented that the rating of Australia’s QBE Insurance Group Limited is “unchanged following the announcement that it has entered into a ten-year distribution agreement with Bank of America Corporation for lender-placed and …
Bank of America agreed to offload its Balboa insurance portfolio to Australia’s QBE Insurance for more than $700 million, the latest in a string of asset sales by the U.S. lender as it recovers from the global credit crisis. Bank …
QBE Insurance, Australia’s biggest insurance group, is in talks to buy U.S. insurer Balboa from Bank of America , a media report said on Thursday, sparking talk that QBE would have to sell new shares to help fund the deal. …
