M&A Deal Summary

QBE Acquires Praetorian Financial Group

On March 31, 2007, QBE acquired insurance company Praetorian Financial Group from Hannover Ruck for 800M USD

Acquisition Highlights
  • This is QBE’s 8th transaction in the Insurance sector.
  • This is QBE’s 2nd largest (disclosed) transaction.
  • This is QBE’s 3rd transaction in the United States.
  • This is QBE’s 1st transaction in New York.

M&A Deal Summary
Date 2007-03-31
Target Praetorian Financial Group
Sector Insurance
Buyer(s) QBE
Sellers(s) Hannover Ruck
Deal Type Divestiture
Deal Value 800M USD

Target

Praetorian Financial Group

New York, New York, United States
Praetorian Financial Group writes specialist property and casualty insurance programs through various managing agents and brokers.

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Buyer(S) 1

Buyer

QBE

Sydney, Australia
Category Company
Founded 1886
Sector Insurance
Employees13,479
Revenue 17.4B USD (2023)
DESCRIPTION

QBE is a general insurance and reinsurance companies, with operations in all the key insurance markets.The company underwrites commercial and personal lines classes of business through operations in 45 countries. QBE was founded in 1886 and is based in Sydney, Australia.

DEAL STATS #
Overall 8 of 29
Sector (Insurance) 8 of 29
Type (Divestiture) 1 of 5
State (New York) 1 of 1
Country (United States) 3 of 13
Year (2007) 1 of 4
Size (of disclosed) 2 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-09-27 British Marine Holdings

London,, United Kingdom

British Marine Holdings provides Protection and Indemnity liability (P&I) and Hull and Machinery (H&M) insurance to ship owners. It insures over 8,000 small ships in more than 80 countries, through a network of over 250 brokers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-31 Winterthur U.S. Holdings

Sun Prairie,, Wisconsin, United States

Winterthur U.S. Holdings, Inc. is a provider of property and casualty insurance services.

Buy $1.2B

Seller(S) 1

SELLER

Hannover Ruck

Hannover, Germany
Category Company
Founded 1966
Sector Insurance
Employees3,346
Revenue 31.6B EUR (2022)
DESCRIPTION

Hannover Ruck is a provider of reinsurance products and services in Germany and internationally. Company operates through two segments, Property & Casualty Reinsurance, and Life & Health Reinsurance. Hannover Ruck was founded in 1966 and is based in Hanover, Germany.

DEAL STATS #
Overall 1 of 2
Sector (Insurance) 1 of 2
Type (Divestiture) 1 of 2
State (New York) 1 of 2
Country (United States) 1 of 2
Year (2007) 1 of 1
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-22 Clarendon Insurance Group

New York,, New York, United States

Clarendon Insurance Group, Inc. is a property and casualty insurance company. It also offers specialty insurance products.

Sell $200M
Mergr

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