Zurich Insurance buys QBE's Latin American operations
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Zurich Insurance Group AG is buying Australia-based QBE Insurance Group Ltd.'s Latin American business for $409 million, Reuters reported. Zurich said that the acquired business' gross written premiums totaled $790 million in 2017, with Argentina accounting for about half of the premiums. Claudia Dill, Zurich's chief executive for Latin America, said that the transaction positions Zurich as the leading insurer in Argentina. QBE will retain its Puerto Rico operations to service claims from Hurricane Maria.
