QBE offloads Indonesia and Philippines operations in cost-cutting drive

QBE group chief executive Pat Regan

Australian insurer QBE is seeking $130m in cost savings in a three-year efficiency programme that will see it sell off its Indonesia, Philippines and Puerto Rico businesses and operate in nine fewer countries. It has also announced a new, simplified structure that will divide its international business into three regional groups – North America, international markets and Australia-Pacific – as…

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