QBE buys Universal
OAMPS has sold its wholly owned subsidiary Universal Underwriting Agencies to QBE.
QBE Executive GM Corporate Partners and Direct Tony MacRae says the deal will be effective from August 31.
Universal Underwriting staff will be offered employment by QBE to ensure continuity of relationships and the provision of service to intermediaries.
“QBE and Universal have had a long and constructive working relationship together,” Mr MacRae said. “This agreement is a logical move.”
Universal was originally part of the Australian arm of the Swiss-based Zuellig Insurance Brokers operation. It changed its name from Zuellig Underwriting Services to Universal Specialist Underwriters, then a few years ago became Universal Underwriting Agencies to emphasise the type of business it carried out.
OAMPS bought Zuellig’s Australian operation in 2005, and Universal operated as an independent part of the brokerage.
QBE Executive GM Corporate Partners and Direct Tony MacRae says the deal will be effective from August 31.
Universal Underwriting staff will be offered employment by QBE to ensure continuity of relationships and the provision of service to intermediaries.
“QBE and Universal have had a long and constructive working relationship together,” Mr MacRae said. “This agreement is a logical move.”
Universal was originally part of the Australian arm of the Swiss-based Zuellig Insurance Brokers operation. It changed its name from Zuellig Underwriting Services to Universal Specialist Underwriters, then a few years ago became Universal Underwriting Agencies to emphasise the type of business it carried out.
OAMPS bought Zuellig’s Australian operation in 2005, and Universal operated as an independent part of the brokerage.