Sale of QBE travel insurance business to nib
In late 2018, QBE's travel insurance business was acquired by nib Holdings Limited (nib). The acquisition was completed on 13 May 2019, and from this date QBE will no longer offer travel insurance in Australia.
More information on the acquisition of the QBE Travel Insurance business by nib
The range of policies formerly available through QBE and Travel insurance Cover has been relaunched by nib. The policies have been rebranded as nib Travel Insurance and now underwritten by underwritten by XL Insurance Company SE, Australia branch (XL Insurance Company SE is part of AXA XL, a division of AXA). There have been changes to some policy terms and conditions – please refer to the product disclosure statement for full policy terms and conditions.
Importantly, a number of the QBE Travel Insurance team have moved to nib as part of the acquisition, provided continuity.
Travel Insurance Cover has distributed QBE Travel Insurance since 2008, and is pleased to announce that from 13 May 2019 we will be set up as a distributor of nib..
- The QBE travel insurance business will be acquired by nib, with the acquisition to be finalised on 13 May 2019
- The range of policies formerly available through QBE will be relaunched as nib Insurance for Travellers, and will be underwritten by certain underwriters at Lloyd's
- Policy benefits and levels of cover will remain unchanged, although there have been some changes to policy terms and conditions
- A large number of the former QBE team will be employed by nib following the acquisition
- Travel Insurance Cover will distribute nib Travel Insurance from 13 May 2019, and will continue to offer policies online
Please contact our office if you would like more information or would like to discuss the changes.