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SLG will operate
as an independent subsidiary and will continue executing our
dedicated service and solution value proposition under our
existing management team and staff. You and your policyholders
will continue to have access to secure, quality coverage via
carrier-direct underwriting and distribution.
SLG will become
part of QBE's U.S. Agency business unit, under the direction of
President and CEO Laura Hinson. QBE was interested in SLG
because our commitment to quality business relationships
complements their business model and helps them further
strengthen their position as a diversified and leading insurer
in the United States. It also provides a platform QBE can
leverage in the larger health market.
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With
this transaction, we will continue a lasting alliance with a strong
company and long-term business partner.QBE has been our carrier
partner since 2003 and is one of the largest insurance and
reinsurance groups in the world, with ratings of 'A+' by Standard &
Poor's and 'A' (Excellent) by A.M. Best. Its Americas Division,
headquartered in New York, conducts business through various
property and casualty subsidiaries in eight countries and has five
business units: Regional, Specialty, Reinsurance, Latin America and
its U.S. Agencies segment, of which we will become part.
