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QBE Acquires Special Risk, Student and Sports Accident Insurance Portfolio

Source: QBE


Posted on 16 Sep 2009

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QBE has acquired the CIGNA special risk, student and sports accident insurance book of business, enhancing its existing QBE Specialty Insurance health practice. This portfolio provides medical expense coverage for students, athletes and participants in camps, clubs, day care centers and a broad range of other youth and adult group activities.

Key members of CIGNA's existing specialty accident unit are joining QBE and relocating to a new office in Plymouth Meeting, Pa. QBE is retaining CIGNA's current managing general agents and third party administrators. Together, they will work closely with QBE Specialty’s New York-based health team, directed by senior vice president, Thomas Leonardo, to ensure a high level of service and continuity during and after this transition.

“The CIGNA team and its partners have many years of experience and a solid track record of exceptional service for agents, policyholders and claimants alike,” said Stephen Fitzpatrick, president, QBE Specialty Insurance. “They’re adding to our expertise in this distinct market and further strengthening our commitment to the accident and health underwriting business.”

“The CIGNA team and its partners have many years of experience and a solid track record of exceptional service for agents, policyholders and claimants alike,” said Stephen Fitzpatrick, president, QBE Specialty Insurance. “They’re adding to our expertise in this distinct market and further strengthening our commitment to the accident and health underwriting business.”

QBE Specialty Insurance is dedicated to distinct niche programs customized to meet the insurance needs of specific industries or business segments. QBE Specialty Insurance partners with retail program administrators and more than 80 managing general agents (MGAs), and writes in all 50 states. It recorded gross written premium of more than $1.5 billion in 2008.

QBE Specialty Insurance is part of QBE Insurance Group Limited, one of the top 25 insurers and reinsurers worldwide. Headquartered in Sydney, Australia, QBE operates in 45 countries around the globe, with a presence in every key insurance market. The Americas Division, headquartered in New York, conducts business through various property and casualty insurance subsidiaries in eight countries. QBE’s Americas Division produced more than $3.7 billion in gross written premium in 2008, and has a policyholder’s surplus of more than $1.7 billion. QBE Insurance companies are rated “A” (Excellent) by A.M. Best and “A+” by Standard and Poor’s. For more information, visit qbe.com.


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