QBE to sell US agency business

In keeping with a strategic decision reported last year, QBE North America has entered into an agreement to sell its US Agency business, which includes Community Association Underwriters ("CAU"), Deep South, and SIU, to Alliant Insurance Services.

According to a release from the Company, while QBE North America will maintain the underwriting portion of the business, this transaction effectively results in a divestiture from the agency business.

QBE US Agencies will join Alliant subsidiary Alliant Specialty Insurance Services (ASIS), the company's MGA and program administrator.

QBE North America CEO Dave Duclos said, "As a global insurance company, QBE remains focused on aligning with specialty distribution partners that can help accelerate our growth and we feel certain that will be the case here. Each of the agencies will remain a valued and key partner of QBE, and we look forward to continuing to grow our program business through these agencies. QBE is committed to working with Alliant and CAU, Deep South, and SIU."

"This acquisition marks a significant milestone in the continued expansion of Alliant's MGA and program administrator business," said Tom Corbett, Chairman and CEO of Alliant. "QBE US Agencies' MGAs have a longstanding track record of targeted market expertise, proven carrier relationships, and strong growth prospects."