QBE acquires Evergreen portfolio

by Gill Montia

Story link: QBE acquires Evergreen portfolio

Business insurer, QBE European Operations (QBE EO), has acquired the brand and renewal rights of the Evergreen portfolio from Lloyd’s managing agency, Beaufort, which is owned by Munich Re.

Evergreen acts exclusively as a service company for MSF Pritchard Syndicate 318, specialising in small commercial combined insurance business.

According to QBE EO, the move will expand its national capabilities and assist growth of its property business, where it has ambitions to enter a top five position in the UK market.

The firm’s managing director, Bernard Mageean, says: “The Evergreen business model fits very well with our commitment to offer a comprehensive and quality property proposition to our brokers and clients.”

Last week, QBE announced that it has selected ClaimCenter from Guidewire Software to deliver business support and service across QBE EO.

The unit’s claims director, Andrew McBride, commented: “The implementation of this new system will ensure that QBE remains at the leading edge of claims capability.”