NEW YORK, Sept. 15, 2016 /PRNewswire/ -- QBE North America today announced that the United States Department of Treasury approved QBE Insurance Corporation (QBEIC) as a Certified Company with an underwriting limitation (also referred to as a "Treasury Listing") of $73.5 million per bond. This achievement builds upon a previously approved Treasury Listing for another QBE subsidiary, General Casualty Company of Wisconsin, at $24.6 million per bond.
"This additional capacity, supported by our balance sheet financial strength and claims paying ability, greatly expands our ability to meet the demands of large private and public projects on a national basis," said Jeffrey S. Grange, President, QBE Specialty. "The increased Treasury Listing affirms our long-term commitment to building a market leading Surety platform for our appointed producers and Surety customers."
Matt Curran, SVP, Head of QBE Surety added, "Obtaining QBEIC's Treasury Listing allows us to better serve our clients and producers as we focus on the middle market contractor segment of the Surety industry. This new Treasury Listing will allow us to positively build upon the strong momentum we have already established since launching our Surety efforts a few years ago."
QBE's portfolio of Surety bonds includes contract and commercial bonds that can be tailored to meet a client's specific business needs. In the U.S., QBE focuses on serving the needs of general contractors, road and heavy equipment contractors, other prime contractors, and major sub-trade contractors. QBE also offers commercial bond support ranging from small license and permit bonds to large corporate commercial bonds. QBE's Surety team in the U.S. is an important part of the company's global Surety platform, which includes Surety underwriting teams around the world serving customers in Europe, Asia and Australia.
QBE Specialty underwrites risks and provides exemplary coverage and services to support the specialized needs of customers across a wide variety of segments and industry sectors. These include Accident & Health, Aviation, Cyber, Inland Marine, Financial Institutions, Healthcare, Management Liability & Professional Lines, Transactional Liability, Media & Entertainment, Trade Credit, and Surety, for appointed retail and wholesale producers.
QBE North America is part of QBE Insurance Group Limited, one of the largest insurers and reinsurers worldwide. QBE NA reported Gross Written Premiums in 2015 of $4.6 billion. QBE Insurance Group's 2015 results can be found at www.qbena.com. Headquartered in Sydney, Australia, QBE operates out of 43 countries around the globe, with a presence in every key insurance market. The North America division, headquartered in New York, conducts business through its property and casualty insurance subsidiaries. QBE insurance companies are rated "A" (Excellent) by A.M. Best and "A+" by Standard & Poor's. Additional information can be found at www.qbena.com, or follow QBE North America on Twitter.
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