QBE acquires Underwriting Agencies of Australia
QBE has continued its program of acquisition with the purchase of mobile plant and equipment specialist Underwriting Agencies of Australia (UAA).
Under the deal, UAA becomes a wholly owned subsidiary of QBE, effective from July 1.
Newcastle-based UAA has gross premiums of over $80 million and employs 32 full-time staff.
QBE becomes the insurer for all lines of business placed with UAA, replacing Lloyd’s and Suncorp.
UAA MD Phil Duncan was unavailable for comment.
Under the deal, UAA becomes a wholly owned subsidiary of QBE, effective from July 1.
Newcastle-based UAA has gross premiums of over $80 million and employs 32 full-time staff.
QBE becomes the insurer for all lines of business placed with UAA, replacing Lloyd’s and Suncorp.
UAA MD Phil Duncan was unavailable for comment.