QBE Insurance Group

Fitch issues warning over Brit Insurance

Fitch Ratings has placed Brit Insurance Limited's insurer financial strength rating of 'A' on rating watch negative after the sale of its UK regional business to QBE.

Brit UK regional sold to QBE

Australian insurer QBE's European operations has bought Brit UK's regional operations with 130 staff transferring.

Hong Kong GI business grows 10%

Hong Kong's Office of the Commissioner of Insurance has revealed that total gross premiums of the Hong Kong general insurance industry in 2011 grew 10.7% to $34.7bn with net premiums up 8.5% to $23.8bn compared with 2010.

QBE finds firms expect two-year recovery

A pre-budget survey by commercial lines insurer QBE has found that 77% of UK businesses expect it to be two years or more before the UK sees a full economic recovery – with half (49%) not expecting a turnaround for three years or more.

Market moves: Insurers are the main movers

Insurers were, once again, the main movers and shakers this week, Ecclesiastical leading the way with the appointment of four new directors, while Allianz, QBE, XL and Arc Legal also welcomed new staff.

HSBC sells GI units to Axa and QBE

Axa and HSBC announced today they have entered into an agreement whereby the French insurance giant would acquire the bank's property and casualty businesses in Hong Kong, Singapore and Mexico.

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