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QBE moves into Switzerland

QBE has acquired two Swiss insurance businesses that will be merged next year to form QBE Switzerland.

HP Jenni & Partner and Anex Jenni & Partner are motor specialists with a combined income of about €8.5 million ($13.5 million) and a staff of nine.

QBE European Markets MD Doron Grossman says QBE Switzerland will broaden the business written in its local market beyond the motor sector into property, casualty and other lines.