Swiss Re Corporate Solutions to acquire QBE credit unit

The portfolio is projected to deliver about $200m in yearly income across ANZ, UK.

Swiss Re Corporate Solutions, the commercial insurance arm of the Swiss Re Group, will acquire the global trade credit and surety business of QBE Insurance Group (QBE).

Once the transaction is completed, the acquisition “will strengthen Swiss Re Corporate Solutions' primary credit and surety insurance offering and expand its capabilities to address the risk management needs of corporate clients.” 

QBE's Global Trade Credit and Surety business has a presence in Australia, New Zealand and the UK. The portfolio is expected to generate annual revenues of approximately $200m.

Globally, the speciality insurance line of the insurance market generates around $19b in premiums annually, with continued growth potential driven by heightened economic uncertainty, more complex supply chains, and rising demand for sophisticated risk-transfer solutions.