Swiss Re Corporate Solutions has reached an agreement to acquire QBE Insurance Group’s Global Trade Credit and Surety business, a move expected to strengthen Swiss Re’s primary credit and surety insurance offerings. The transaction, subject to regulatory approvals anticipated to take several months, was announced on February 20, 2026.
The acquired business operates across Australia, New Zealand, and the United Kingdom and is projected to generate approximately $200 million in annual revenues, according to Swiss Re. QBE’s Global Trade Credit and Surety business is supported by a team of industry specialists.
“This acquisition represents an important milestone for Swiss Re Corporate Solutions,” said Ivan Gonzalez, Chief Executive Officer of Swiss Re Corporate Solutions. “It will allow us to expand our offering in this attractive segment by strengthening our global credit and surety platform with a well-managed, profitable portfolio and a highly experienced team. We are excited to build on QBE’s market-leading capabilities as we continue to differentiate our offering to aid corporate clients navigate the evolving risk landscape.”
The global market for this segment of insurance generates around $19 billion in annual premiums, and Swiss Re believes continued growth is likely, driven by increased economic uncertainty, more complex supply chains, and growing demand for sophisticated risk transfer solutions. The acquisition aligns with Swiss Re Corporate Solutions’ strategy to diversify its portfolio and pursue new growth opportunities.
Swiss Re Corporate Solutions intends to collaborate closely with QBE to ensure a smooth transition for policyholders, brokers, and the team members involved in the business. Financial details of the transaction have not been disclosed. The deal follows QBE’s recent divestiture of its French Bonds business, which was not included in the current transaction.
QBE Group previously announced the sale of its Global Trade Credit and Surety business to Swiss Re Corporate Solutions, the commercial insurance arm of Swiss Re Group.