The last time an Australian company tried to do something substantial in Colombia, Aristocrat finished up with egg on its face after 2350 poker machines sat in some Bogota warehouse destined for a casino operator who refused to pay. Check out the story here.
Aristocrat did a runner and took a hit but now QBE Insurance has today unveiled the acquisition of a Colombian general insurance business. The announcement is hard to decipher because it is coupled with another deal in Europe and we’re only told that the two businesses will add $150 million in premium revenue. Check out the announcement here.
Hmmm, we wonder how QBE will fight any fraudulent claims and ensure collection of any reinsurance contracts. Hope they’ve got good heavies in this new Colombian division called Central de Seguros.
One list that Crikey has always wanted to do concerns numbers of acquisitions by corporates. QBE would certainly be in the top 10 but we’d love to list the Australian companies that have bought the most number of distinct businesses over the years.
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Three others that would be right up there include Computershare, Westfield and Toll Holdings. Send any thoughts on this to [email protected].