QBE acquires Evergreen

QBE European Operations has acquired the brand and renewal rights of the Evergreen portfolio from Beaufort Underwriting Agency, which is owned by Munich Re. .

The insurer said that the combination of the team’s high quality service skills and QBE’s technical and distribution strengths, will assist it in its ambition of growing its property business and expanding its UK National capabilities.

Bernard Mageean, managing director, property, QBE European Operations said: “The Evergreen business model fits very well with our commitment to offer a comprehensive and quality property proposition to our brokers and clients.

"I am looking forward to working with the Evergreen team and learning from their specialist expertise, which will be invaluable in supporting the ongoing growth of QBE’s property business as we move towards our goal of building a top five position in the UK market.”