QBE to buy PMI’s Australasian units for $901m
QBE Insurance has agreed to buy the Australian and New Zealand operations of US mortgage insurers PMI for a total of A$1.027bn ($901 million).
The PMI Australia acquisition is subject to regulatory approvals and the PMI Asia acquisition is subject to definitive agreements and regulatory approvals.
Frank O’Halloran, QBE’s chief executive
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