Acquisition Overview
On July 2, 2026, in Mumbai, QBE Insurance Group Limited announced that it has acquired 100% ownership of Raheja QBE General Insurance Company Limited, following approval from the Insurance Regulatory and Development Authority of India (IRDAI). The transaction concludes an 18‑year joint ownership arrangement with Prism Johnson Limited and will result in the Indian carrier being renamed simply as QBE.
Strategic Rationale
Rob Kosova, Chief Executive Officer of QBE Asia, stated that India is one of the world’s most dynamic markets and that QBE is well positioned to deploy its capabilities to unlock the next phase of growth. He emphasized that sole ownership will enable the group to explore new opportunities for product and operational innovation, with the goal of delivering customer‑centric solutions across the Indian insurance landscape. Kosova added that while ownership is changing, the focus remains on supporting customers, partners, and employees, preserving continuity, and creating new avenues for growth, innovation, and career development.
Corporate Structure and Listing
QBE Asia forms part of the International Division of QBE Insurance Group Limited, which is headquartered in Sydney, Australia, and listed on the Australian Securities Exchange (ASX). The press release was distributed via PRNewswire, and a photo of Rob Kosova is available at the provided media link.
Regulatory and Compliance
The acquisition received the requisite clearance from IRDAI, confirming compliance with Indian insurance regulations. No further regulatory conditions or timelines were disclosed in the announcement.