QBE Purchases Elders Insurance

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Insurer QBE has purchased Elders insurance underwriting arm for $270 Million , in addition QBE will also pay $45 Million to buy 112.5 million Elders shares.

The deal is expected to completed by September 30 subject to due diligence and regulatory approvals

Elders  chief executive Malcolm Jackman says both parties will be working together to further develop the rural insurance operations.

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