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
The strategic partnership with Oaktree Capital and AZ NGA is likely to pave the way for overseas players looking to enter the Australian financial advice market, according to experts.
ASIC has cancelled a Sydney AFSL for failing to pay a $64,000 AFCA determination related to inappropriate advice, which then had to be paid by the CSLR.
Increasing revenue per client is a strategic priority for over half of financial advice businesses, a new report has found, with documented processes being a key way to achieving this.
The education provider has encouraged all financial advisers to avoid a “last-minute scramble” in meeting education requirements prior to the 31 December 2025 deadline.
