Insurance Age

QBE expects Brit purchase to deliver extra £175m GWP

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    • Andrew Pearce

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QBE Insurance Group expects the purchase of Brit's UK regional business to deliver an extra £175m of gross written premium (GWP) in its first full year.

The deal - which was completed in April - was widely acclaimed by brokers at the time.

And, as part of the insurer's half-year results for the year ended June 2012, QBE said the expanded portfolio's combined GWP is now expected to reach £500m.

QBE said policies renewed since 1 May have already boosted GWP during the half year by £8m.

The results stated: "The Brit portfolio specialises in the SME/micro sector of the regional market where QBE previously had no significant presence and includes a

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