Shares in QBE Insurance Group, Australia’s top insurer, were placed in a trading halt on Thursday ahead of the release of its preliminary 2011 results and amid concerns about an investigation into over-charging involving QBE’s U.S. unit. QBE shares came …
lloyd’s insurer Ascot Underwriting Ltd. announced that it has formed the Strategic Power Consortium, which it described as a “dedicated technical underwriting vehicle for the power and utilities industry.” It began writing business as of January first. Together Ascot, Brit …
The QBE Insurance Group announced that it has agreed to acquire Optima Insurance Group, an underwriting group in Puerto Rico that posted an estimated $100 million in gross written premium in 2011. QBE said the “transaction includes Colonial Insurance Agency, …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength ratings (FSR) of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a+” of UK-based QBE Insurance (Europe) Limited, QBE Insurance (International) Limited (Australia) and QBE Reinsurance (Europe) …
A.M. Best Co. has removed from under review with negative implications and affirmed the financial strength rating of ‘A’ (Excellent) and the issuer credit ratings of “a” of Balboa Insurance Group and its property/casualty members, Balboa Insurance Company, Meritplan Insurance …
QBE, Australia’s global insurance group, announced a 53 percent increase in the half year net profit after tax of US$673 million. The group noted that this figure was “within the range provided to the market on 14 June 2011.” QBE …
Impressive US growth has capture market’s attention DALLAS, August 10, 2011 – Rob Byler, President and Head of Program Business at QBE, will deliver a keynote presentation to over 400 insurance industry executives on September 13, 2011 in Dallas, at …
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 …
Australia’s QBE announced that it has completed its acquisition of the U.S. admitted insurance businesses of Renaissance Re, which include a U.S. crop and small specialist program insurance business. QBE said the acquisition supports its “commitment to growing the business …
The Australia-based QBE Group reported net after tax profits of *$1.278 billion for 2010, a 17 percent decrease from the $1.532 billion reported for 2009. However, the decline was almost entirely due to a drop in investment income from $1.532 …
