PMI is a great business. A niche really.
The Australian arm of the US listed insurer run a very profitable outfit.
I honestly didnt want QBE to acquire IAG. IAG may be big domestically (well in NSW), they are a slow laggard corporate with alot of fat. Very inefficient.
This deal epitomises what QBE do. They pick and choose profitable outfits and mold them into the corporation.
qbe buys pmi, page-4
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