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CUNA Mutual to sell Australian business
MADISON, Wis. (1/28/11)--CUNA Mutual Group has reached an agreement in principle to sell its Australian business operations to QBE Insurance Group. CUNA Mutual concluded its Australian business would be better positioned to serve its customers and for future growth under a different ownership structure. The agreement does not affect CUNA Mutual’s commitment to its remaining international operations in Europe and the Caribbean, the company said. QBE Australia is a member of the QBE Insurance Group, Australia’s largest international insurance and reinsurance group and one of the top 25 global insurers and reinsurers as measured by gross written premium. QBE Australia has more than 50 offices spanning each state and territory in Australia.
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