QBE takes CUNA
QBE has acquired the Australian operations of large US insurer CUNA Mutual Group.
QBE confirmed the acquisition to the Australian Securities Exchange today saying that it was subject to regulatory approvals.
The acquisition is scheduled for completion next month and will increase QBE’s share of the Australian credit union and community-based financial institutions sector.
Commenting on the move, QBE chief executive Frank O’Halloran said it represented a key component of the company’s strategy to build its presence in the financial institutions sector.
AUTHOR
Mike Taylor
Recommended for you
Original bidder Bain Capital, which saw its first offer rejected in December, has returned with a revised bid for Insignia Financial.
Preliminary results from Wealth Data for the 2024 calendar year have unveiled which licensees reported the highest growth and losses in adviser numbers.
As Capgemini recommends artificial intelligence be used for hyper-personalised advice strategies, two professionals explore the impact it is having on advisory practices.
Insignia Financial has issued a statement to the ASX regarding a potential bid from a third global private equity business to acquire the firm.
