Zurich gets hold of QBE operations in Latin America
Zurich Insurance sealed agreement for the acquisition of QBE business in Latin America. The transaction, amounting to 409 million USD, is currently submitted to the supervisory authority for approval.
Particularly operational in Argentina, Brazil, Columbia, Mexico and Ecuador, the Australian insurer generated in 2017, 790 million USD in premiums in the afore-mentioned countries, 50% of which in Argentina, alone.
This move will boost Zurich Insurance to the third position on the Ecuadorian market and to the pole position on the Argentinian one.
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