Sydney, Australia-based QBE Insurance Group Limited completed its $700 million acquisition of forced-placed insurance provider Balboa Insurance Group from Bank of America.
In addition to acquiring Balboa's employees, systems and client relationships, QBE agreed to assume $1.2 billion of insurance liabilities. First announced in early February, the deal also includes a long-term distribution agreement with Bank of America for lender placed and voluntary homeowners, contents, motor and other related consumer lines and associated services.
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access