Amid all the recent news about merger and acquisition activity in the property/casualty insurance space, QBE North America was on the sell side in January, announcing that Alliant Insurance Services intends to buy its three managing general agencies.

With the sale now officially closed, and scattered rumors about a possible sale of the middle-market business last year now put to rest, QBE North America isn’t likely to make acquisitions any time soon. But Chief Executive Officer David Duclos doesn’t discount the possibility of scouting out buying opportunities once an in-progress transformation of his company is complete.