Brexit may require revised approach for $661 million of premium: QBE

Australia's QBE Insurance Group Ltd. said that it may have to take a revised approach in connection with roughly £500 million ($661 million) of insurance and reinsurance premiums it currently sources from E.U. member nations following U.K.'s decision to leave the bloc, reported Asia Insurance Review.

The business is written via branches of U.K. regulated entities under current E.U. passporting rules, QBE said.

The insurer does not expect any material impact on daily insurance operations despite Brexit.

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