Deals
QBE to Sell Lender-Placed Insurance Business to National General
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QBE Insurance Group Ltd., Australia’s second-largest insurer by market value, agreed to sell a North American business to National General Holdings Corp. for $90 million.
The transaction will result in a pretax loss of about $120 million this year on non-cash charges and write-offs, QBE said Thursday in a regulatory filing. The unit offers mandatory coverage for borrowers who lapsed on insurance payments to their original carriers.