ESTONIA: QBE Insurance decided to stop activities

15 February 2012 — Vlad BOLDIJAR
ESTONIA: QBE Insurance decided to stop activities
QBE Insurance Europe Limited has, following a strategic market review, decided to stop concluding new insurance contracts by its Estonians branch office. "Its existing book will be placed into run off and the company will continue to perform its obligations under existing insurance contracts", the company announced in a press release.

To assist clients when their existing arrangements with QBE expire, QBE Estonia has entered into a cooperation agreement with the Estonian branch of CODAN Forsikring - member of RSA Group. "That allows RSA to approach QBE's clients and offer RSA's insurance services, subject to clients having given their prior permission. QBE will be contacting its direct clients before expiry of their existing contracts to seek their permission for RSA to make quotation to QBE clients", QBE officials say.

QBE first established a presence in Estonia in 2004 when QBE Group acquired the non-life insurer NORDICUM Kindlustuse Eesti AS. In Estonia QBE has been active in the motor, property, personal accident and travel insurance sectors.

RSA is a regional market leader in the Baltics trading under LIETUVOS Draudimas in Lithuania and BALTA in Latvia.