Swiss Re Corporate Solutions agreed to acquire QBE Insurance Group’s Global Trade Credit and Surety business, subject to regulatory approvals expected to take several months. Financial terms were not disclosed.
The portfolio operates across Australia, New Zealand, and the UK and is projected to generate approximately $200 mn in annual revenue.
The unit includes an established team of trade credit and surety specialists.
Trade credit and surety insurance generates roughly $19 bn in annual premium globally. Swiss Re views the segment as positioned for further expansion amid economic volatility, supply chain complexity, and corporate demand for structured risk transfer solutions.
Upon completion, the acquisition will expand Swiss Re Corporate Solutions’ primary credit and surety capabilities and deepen its presence in key regional markets.
The transaction aligns with the company’s strategy to diversify product lines and capture growth in specialty commercial segments.
Ivan Gonzalez, CEO of Swiss Re Corporate Solutions, described the deal as strengthening the firm’s global credit and surety platform through the addition of a profitable portfolio and experienced underwriting team.
For QBE, the divestment reflects portfolio optimization priorities.
- CEO Andrew Horton stated the sale enables capital redeployment toward areas more closely aligned with the group’s long-term strategic focus.
- Jason Harris, CEO of QBE International, noted Swiss Re’s intent to build on the existing platform’s underwriting expertise and distribution relationships.
According to Beinsure analysts, consolidation within trade credit and surety continues as global insurers seek scale in segments sensitive to macroeconomic cycles and corporate insolvency trends.
The addition of QBE’s portfolio positions Swiss Re Corporate Solutions to expand its footprint in a specialty line closely tied to global commerce flows.
