Insurer QBE has agreed to sell its US agency business for $US300 million ($A324.59 million).
Under the deal, Alliant Insurance Services Inc will make an up front cash payment of $US217 million to QBE, with the remaining money to be paid through an earn-out agreement over the next five years.
QBE, which announced it was looking for a buyer for the business last year, has also reached a long term agreement to retain the underwriting business provided by the agencies.
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