North Pointe Holdings Corp, a Southfield, Mich.-based specialty insurer that counts bowling centers and skating rinks among its underwriting niches, said late yesterday that a unit of QBE Insurance Group will pay $146 million to buy the company.
The firm said it had signed a definitive merger agreement to be acquired by QBE Holdings Inc. in New York, a subsidiary of Australia's QBE Insurance Group Ltd.
In 2007 the Sydney-based property-casualty insurer completed two much larger U.S. deals--for Winterthur U.S. and Praetorian.
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