QBE has acquired US property and casualty insurer North Pointe Holdings Corporation in a $US146 million ($164 million) acquisition, subject to regulatory and shareholder approval.

North Pointe writes $US150 million ($167 million) of premiums in specialist markets, sold through 1900 intermediaries.

QBE Americas CEO Tim Kenny says the acquisition complements recent purchases in the US and increases QBE's distribution network.