NU Online News Service, Feb. 4, 2:52 p.m. EST
QBE Insurance Group Ltd., of Australia, continued its buying spree in the U.S. Thursday by acquiring most of the insurance portfolio of Balboa Insurance Group from Bank of America.
Under the deal, QBE entered into an initial 10-year distribution agreement with Bank of America for Irvine, Calif-based Balboa’s portfolio of coverage of foreclosed homes and force-placed homeowners, contents, motor and other related consumer lines and associated services.
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