Insight and Intelligence on the London & International Insurance Markets

20 April 2018

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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...

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

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