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Article: Market Moves.(NEWS)
- Article from:
- Business Insurance
- Article date:
- October 26, 2009
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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QBE acquires CIGNA's special risk unit
NEW YORKQBE Insurance Group Ltd. has acquired Philadelphia-based CIGNA Corp.'s special risk, student and sports accident insurance book of business, the companies said.
CIGNA's former business covers medical expenses for students, athletes and participants in camps, clubs, day care centers and other group activities. It will become a part of QBE's Specialty Insurance health practice.
New York-based QBE will retain CIGNA's third-party administrators and its more than 80 managing general agents, it said in a statement.
As part of the deal for which terms were not disclosed, some personnel in the ...