Swiss Re to acquire QBE's Trade Credit and Surety business

Swiss Re Corporate Solutions, the direct insurance subsidiary of Swiss Re Group, has entered into an agreement with QBE Insurance Group to acquire its Global Trade Credit and Surety business. QBE’s French operations are excluded from the transaction.

The acquisition remains subject to regulatory approval. Financial terms of the deal have not been disclosed.

Global Trade Credit and Surety maintains a strong presence in Australia, New Zealand, and the United Kingdom. The portfolio generates an estimated annual turnover of approximately 200 million USD.