Swiss Re Corporate Solutions to buy QBE credit and surety unit

Group 1 - Swiss Re Corporate Solutions has agreed to acquire the Global Trade Credit and Surety division from QBE Insurance Group, pending regulatory approval [1][3] - The acquisition aims to enhance Swiss Re's credit and surety insurance business and expand its services for corporate clients, aligning with its strategy for diversification and growth [1][4] - QBE's Global Trade Credit and Surety business is expected to generate approximately $200 million (SFr154.44 million) in annual revenue [2] Group 2 - QBE Group CEO Andrew Horton stated that the divestment supports QBE's strategic focus on optimizing its portfolio and reallocating resources towards growth opportunities that align with its long-term strategy [3] - Swiss Re Corporate Solutions plans to collaborate with QBE during the transition to ensure continuity for policyholders, brokers, and staff [4] - Swiss Re Corporate Solutions CEO Ivan Gonzalez emphasized that the acquisition will strengthen their global credit and surety platform with a profitable portfolio and experienced team [4][5]