Insight and Intelligence on the London & International Insurance Markets

20 April 2018

Search archive

QBE continues US clean-up by offloading Balboa

Adam McNestrie 20 July 2015

QBE has sold its force-placed insurance business to Karfunkel company National General Holdings after a costly four-year experiment with the class of business.

The global carrier sold the business - previously known as Balboa - for $90mn, having acquired it for $700mn.

The sale will also free up in excess of $100mn of capital to deploy elsewhere in QBE's North American business, the firm said.

It is understood that the business was sold after an auction process run by Morgan...


If you are a non-subscriber but would like to be able to view this article, then please go to our Publications page for further information on joining our readership



Share:
This article was published as part of issue July 2015/3

Euromoney Trading Limited - 3rd Floor, 41 Eastcheap, London, EC3M 1DT, United Kingdom. The content of this website is copyright of Euromoney Trading Limited 2018. All rights reserved Euromoney Trading Limited actively monitors usage of our website and products and reserves the right to terminate accounts if abuse occurs.

Π