QBE Insurance (rated S&P ‘A+ Stable’) is duly licensed by The Australian Prudential Regulation Authority (APRA) in Australia (plus, other jurisdictions) and has been issuing Deposit Bonds since 2001 and, due to their overall financial size and strong credit rating, their bonds are widely recognised and accepted in the market, an important criteria for longer term bonds
It’s important to note that QBE is regulated by APRA, the same authority that oversees banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, private health insurance, friendly societies and most members of the superannuation industry
QBE, with origins dating back to 1886, is a financially strong and diverse insurer, with substantial reinsurance backing from major global reinsurers and should, in no way, be compared to the recent demise of the Deposit Power brand in Australia & New Zealand, which was supported by CBL Insurance NZ (now in external administration) that didn’t have an S&P rating and wasn’t a licensed Australian insurer
To further understand QBE’s commitment to Surety Products (which includes Deposit Bonds) and their financial size, strength and credit rating, please view the following: