QBE

Leading Australian general insurance company QBE has made another foray into Eastern Europe, successfully gaining a 60% share of Macedonia’s largest insurer, ADOR Makedonija (AM), for A$23mn (US$14mn). This acquisition is the latest in a series by the company in Central and Eastern Europe and brings to six the number of countries in which QBE now has a presence. AM holds a 94% share of the Macedonian market with annual premium income of more than A$l,400mn.