QBE Insurance Group Limited is engaged in underwriting general insurance and reinsurance risks, management of Lloyd�s syndicates and investment management. It operates in six business segments: North American operations, which writes general insurance and reinsurance business in the United States and Bermuda; Latin American operations, which writes general insurance business in Central and South America; European operations involve QBE Insurance Europe and QBE Underwriting Limited; Australian operations primarily underwrites general insurance risks throughout Australia providing all lines of insurance cover for personal and commercial risks; Asia Pacific operations provides personal, commercial and specialist general insurance covers throughout the Asia Pacific region, and Equator Re is based in Bermuda providing reinsurance protection to related entities and participating on reinsurances placed with external reinsurers. In May 2012, it acquired HSBC Argentina Holdings S.A.