QBE North America and Sedgwick Claims Management Services Announce Changes to Claims Outsourcing Agreement

Tuesday, August 30, 2016

New York, NY – QBE and Sedgwick announced today that QBE will bring the servicing of its Auto, General Liability, and Property claims back in-house and have the opportunity to extend offers of employment to all of the Sedgwick staff dedicated to handling those claims. Sedgwick will continue to service QBE's workers' compensation and TPA-related claims.

The companies expect the shift to take six months. During that time, they will work closely together to ensure a smooth transition and high quality service levels for QBE's customers.

"Three years ago, QBE partnered with Sedgwick to outsource a large portion of its claims service as the company sought to reposition itself for profitable growth," said Dan Franzetti, Chief Claims Officer at QBE North America. "The spirit of partnership and flexibility exhibited by Sedgwick during the ensuing years has been one of the key reasons QBE is in a strong position today. Now, we are ready to take the next step in our journey together. This new arrangement enables QBE to move forward with the best of both worlds. Bringing Auto, General Liability, and Property claims back in-house will allow QBE to build stronger direct relationships with QBE distribution partners and customers. Meanwhile, Sedgwick's scale, expertise, and superior technology in Workers' Compensation will allow QBE to offer market-leading Claims solutions to its customers in that line of business."

David North, CEO of Sedgwick added, "We are pleased to have been a successful part of QBE's strategy for the past few years, and we look forward to continuing our relationship for many years to come. Our colleagues have been proud to serve QBE's customers."

"Given QBE's status as a top 20 global insurance carrier, opportunities will exist at QBE to develop specialized areas of expertise and differentiated service offerings," said Mr. Franzetti. "We think this move will benefit both the Claims staff currently at QBE, as well as the Sedgwick staff who choose to join us. We want to give everyone a breadth of opportunities to sharpen his or her skills and have a clear career path focused on delighting customers with exceptional service."

About QBE
QBE North America is part of QBE Insurance Group Limited, one of the largest insurers and reinsurers worldwide. QBE NA reported Gross Written Premiums in 2015 of $4.6 billion. QBE Insurance Group's 2015 results can be found at www.qbena.com. Headquartered in Sydney, Australia, QBE operates out of 43 countries around the globe, with a presence in every key insurance market. The North America division, headquartered in New York, conducts business through its property and casualty insurance subsidiaries. QBE insurance companies are rated "A" (Excellent) by A.M. Best and "A+" by Standard & Poor's. Additional information can be found at www.qbena.com, or follow QBE North America on Twitter.

About Sedgwick
Sedgwick Claims Management Services, Inc., is a leading global provider of technology-enabled risk and benefits solutions. At Sedgwick, caring countsSM; the company takes care of people and organizations by delivering cost-effective claims, productivity, managed care, risk consulting and other services through the dedication and expertise of more than 14,000 colleagues in some 275 offices located in the U.S., Canada, U.K. and Ireland. Sedgwick facilitates financial and personal health and helps customers and consumers navigate complexity by designing and implementing customized programs based on proven practices and advanced technology that exceed expectations. Sedgwick's majority shareholder is KKR; Stone Point Capital LLC and other management investors are minority shareholders. For more, see www.sedgwick.com

Contact
Carla Ferrara, Vice President, Corporate Communications & Branding, 212.497.9604, Carla.ferrara@us.qbe.com