S&P: QBE Insurance unaffected

Standard & Poor's said that its ratings and outlook on the recently rebranded QBE Insurance (Europe) Ltd. (A+/stable/--; formerly QBE International Insurance Ltd.) would be unaffected by the reorganization of the QBE group's European operations, planned for the end of the year.

S&P said that QBE recently announced that it plans to transfer the business, assets and liabilities that currently reside in QBE Insurance Co. (U.K.) Ltd. (A+/stable/--) into QBE Insurance (Europe) Ltd.

QBE Insurance (Europe) Ltd.'s core status, and hence its ratings, will be unaffected by this change, S&P said.

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