QBE has acquired MBP Holdings, holding company of UK underwriting agency Minibus Plus.
Minibus Plus produces around $A100m of gross premium income from specialist commercial motor for underwriters through 4,000 brokers throughout the UK.
QBE has insisted that the business produced by Minibus Plus is complementary to the business written by Ensign, which QBE acquired in 2004.
QBE's chief executive Frank O'Halloran said: "The acquisition of Minibus Plus which will be funded from existing resources and is in line with QBE's strategy to further diversify its distribution and specialty insurance business in the UK."
The acquisition is subject to regulatory approval.
