It might be all quiet on the home front for QBE CEO Frank O’Halloran, but he’s maintaining a swift pace in the group’s international operations. Last week the group announced that it will make a further capital injection of $103.4 million into its US companies to support its continuing growth. The capital will come from the proceeds of the $345 million subordinated debt raised by QBE in June.

Company Secretary Duncan Ramsay says the capital injection will support growth in gross premium income from QBE’s US operations, up 16% this year to about $1.2 billion, and an expected 29% increase next year to $1.58 billion.

Ratings agency AM Best last week confirmed the rating of QBE’s US group of companies as A (Excellent) with a stable rating outlook.

QBE has also signed a heads of agreement to purchase Ensign Motor, part of the Ensign operation at Lloyd’s. Ensign Motor writes about $474 million in gross premium, and Mr O’Halloran said in a statement that Ensign Motor will be expanded and diversified within QBE. “Growth will be based on Ensign’s well established distribution network.”

QBE has also re-branded its British-based Iron Trades major risks division as QBE Insurance. The 105-year-old Iron Trades – one of the largest writers of employers’ liability in the UK market – was bought by QBE in February 2000 for $445 million.

Building on a strong liability market, the group is predicting that the business will bring in premium income of more than $1.6 billion next year, rising to as much as $2.3 billion by 2005.

Iron Trades GM Paul Kurgo has become GM – UK Retail for QBE Insurance. The operation itself is part of the Major Risks division which includes the London market and French operations. He told the Insurance Times in London that the name change will eliminate confusion among customers that the company only handled iron and steel businesses. “Our future plans are not in that sector.”