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New name for PMI as acquisition finalised

Staff Reporter 3 minute read

Mortgage insurer PMI Australia today announced that it has changed its name to QBE Lenders’ Mortgage Insurance Limited (QBE LMI).

The announcement follows QBE’s announcement to the ASX last week that it had completed its acquisition of PMI.

Following the announcement, Standard & Poor’s and Moody’s have affirmed the insurer’s AA- and Aa3 ratings respectively.

Ian Grahan, QBE LMI chief executive, said “in this uncertain environment we believe customers will clearly benefit from the financial strength, expertise and operational excellence of QBE, and will welcome the stability brought by this change in the new ownership of business.”

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Published: 29-10-08

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QBE purchases PMI Australia 15-08-08

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