Last Oct QBE announced a review of their business. The SP tanked and subsequently built up gradually. Recently they announced their intentions to sell Winthertur. And the shares fell again. The first fall was logical and the second unreasonable. So much for efficient market theory. There is more news. "Sydney-headquartered carrier QBE has put the renewal rights for its bloodstock book up for sale following the potential sale of its Lloyd's aviation and US middle market businesses, Inside FAC understands.
It is understood that rights to the business will be bought by a Lloyd's carrier looking to expand in the sector. A number of market sources said that Marketform would be a likely buyer.
It is uncertain whether any QBE bloodstock staff will move with the book of business..
QBE Price at posting:
$11.87 Sentiment: Hold Disclosure: Held
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