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Article: QBE STILL SHOPPING DESPITE REJECTION.
- Article from:
- Business Insurance
- Article date:
- August 16, 1999
- Author:
CopyrightCOPYRIGHT 1999 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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SYDNEY, Australia-Australian insurer QBE Insurance Group Ltd. will continue to seek acquisition targets in the London market and elsewhere, after it was rebuffed last month when it approached Lloyd's of London insurance group Limit P.L.C.
Frank O'Halloran, QBE's managing director, said the Sydney-based insurance company made a preliminary overture in July to the directors of London-based Limit to see if they would allow QBE to carry out an initial due diligence. Limit owns and manages the Lloyd's underwriting agencies Bankside Syndicates Ltd. and Janson Green Ltd.
Mr. O'Halloran said it was disappointing that Limit's directors decided to make QBE's ...