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
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