JUA Underwriting Agency has sold its Truckingsolutions heavy motor insurance business to QBE. 

The acquisition – for an undisclosed sum – will give QBE renewal rights to JUA’s Truckingsolutions portfolio. All new business and renewals will be underwritten by QBE.

Truckingsolutions generates $25 million in annual premium income. 

QBE EGM Intermediary Distribution Tony MacRae told insuranceNEWS.com.au the purchase will “build on QBE’s presence in the commercial motor market and provide us with the opportunity to strengthen our offering as a heavy motor specialist”.

Arthur Kindis, previously QBE’s underwriting agencies senior distribution manager, will head the Truckingsolutions business.

Truckingsolutions has 12 staff involved in underwriting, claims and risk management.

insuranceNEWS.com.au understands the sale to QBE follows an unsuccessful management buyout attempt.

JUA launched Truckingsolutions in 2007.