9/04/2009 12:20:47 PM, Babcock & Brown Exit Assetinsure
The sale of B&B Insurance Pty Ltd’s shareholding in Assetinsure was completed on 8 April 2009. APRA approval for the sale was received on 6 April 2009.
Babcock & Brown no longer has any involvement in the Assetinsure Group.
For further information, please see www.assetinsure.com.au or contact Peter Wedgwood, CEO on 02 9251 8055 or Gregor Pfitzer, COO, on 02 8274 2832.
About Assetinsure
Assetinsure is a general insurer licensed by APRA. Assetinsure specialises in underwriting selected commercial insurance product lines, including professional indemnity, aviation, property, motor, financial risks and surety. Customers are predominantly middle market and corporate buyers. Assetinsure has been authorised by APRA since February 2004. For corporate profile, services and financials, visit www.assetinsure.com.au.
About GLOBAL
GLOBAL is owned by Globale Rückversicherungs-AG (Global Re) in Germany ( www.globalre.com) which has over A$3 billion in assets worldwide. GLOBAL is the local, non operating holding company for Global Re’s activities in Australia which include 100% ownership of Global Life Reinsurance Company of Australia Pty Ltd, an APRA licensed life reinsurance company. GLOBAL has maintained involvement with Assetinsure over the years particularly through their representative on the Assetinsure Board.
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