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Alliant in $300M Deal to Buy QBE Units

Newport Beach-based Alliant Insurance Services Inc. has agreed to pay about $300 million to acquire QBE US Agencies, the U.S. operations of Sydney, Australia-based QBE Insurance Group Ltd.

The deal includes a cash payment of $217 million, with the remainder to be paid over the next five years, according to a statement by QBE.

QBE US Agencies is a group of three specialty-focused enterprises. It’s composed of Glendale-based SIU Managers, which specializes in the earthquake market; Irving, Texas-based Deep South Insurance Services, which focuses on the transportation industry; and Newtown, Penn.-based Community Association Underwriters of America, which serves community associations, condos and homeowners associations.

The three agencies will become part of Alliant’s subsidiary Alliant Specialty Insurance Services, which is headed by President Sean McConlogue.

Alliant is among the largest insurance brokerages in the U.S. and the largest with headquarters in Orange County. It had about $548 million in revenue in 2013, the latest available.

Publicly traded QBE is one of the largest insurers and reinsurers in the world. It had about $17.8 billion in revenue in 2013. It doesn’t break out financial data for the three enterprises expected to go to Alliant when the deal closes in next month.

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