QBE receives approval to shift European business to Belgian unit

The U.K. High Court has permitted Australia-based QBE Insurance Group Ltd. to transfer its European general insurance operations to its Belgian unit to prepare for Brexit, Xprimm.com reported. The insurer will transfer its European business to Belgium-based QBE Europe SA/NV from U.K.-based QBE European Operations P.L.C. The insurer will also shift its European reinsurance operations – QBE Re (Europe) Ltd – to the Belgian unit.

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