• Most Popular
  • Most Shared

Australia's QBE to buy ZC Sterling for $575 mln

Tue Nov 25, 2008 4:59pm EST

Stocks

   

SYDNEY, Nov 26 (Reuters) - QBE Insurance Group Ltd (QBE.AX), Australia's top insurer by premium income, agreed to acquire U.S.-based underwriting agency ZC Sterling Corp for $575 million, QBE said in a statement on Wednesday.

Stocks  |  Mergers & Acquisitions  |  IPOs

QBE also plans to raise A$2 billion ($1.3 billion) through share placement. ($1=A$1.53) (Reporting by Denny Thomas;)



More from Reuters

Photo

Honda expands airbag recall as more Toyotas probed

TOKYO/DETROIT (Reuters) - Honda Motor Co said it would recall another 440,000 cars around the world for faulty airbags as rival Toyota Motor Corp faced further probes over its largest-ever safety crisis. | Video

A worker walks on steel frames at a construction site in central Beijing January 27, 2010. REUTERS/Loic Hofstedt
Analysis:

China's boom may lead to bust

The housing market is becoming the investment of choice for the Chinese, which is making policymakers very nervous.  Full Article