Construction insurance: QBE definitively withdraws from the French market
The insurance sector in France is undergoing a significant change. The international insurance company QBE has officially confirmed its intention to completely exit the French construction insurance market. This decision marks the end of a period of presence for the Australian insurer in this specific field within the national territory.
This withdrawal primarily concerns guarantees related to construction work. QBE will no longer underwrite new contracts in this sector, which forces building professionals and affected companies to seek new solutions from other insurers. This transition is being closely monitored by industry players, as it reduces the number of options available to French professionals.
For construction companies, this situation poses logistical challenges. Finding a new insurer to cover risks related to construction sites can be complex and sometimes more costly. Insurance brokers are currently working to assist their clients in this search for new partners in order to ensure the continuity of their operations without interruption.
QBE's decision is part of a global strategy to reorganize its activities. The insurer wishes to focus on other markets and other types of risks deemed more profitable or more aligned with its international objectives. For the time being, existing contracts will be managed until their term, but no new files will be accepted by the company.
In conclusion, this departure alters the competitive landscape of construction insurance in France. Professionals in the sector must now anticipate this change to ensure the legal and financial protection of their future construction projects.