QBE looks to offload $500mn US commercial auto book

QBE is searching for a home for a book of US commercial auto
liabilities, The Insurance Insider
understands.
Sources told this publication that the portfolio held gross
reserves of $500mn and mostly contained commercial auto risks.
The Australian carrier is understood to have retained broker JLT
Re to secure a loss portfolio transfer that would effectively shift
the liabilities to a legacy carrier.
Discussions are believed to be ongoing. However, it is likely
that only one of the larger run-off.