Sterling National, a subsidiary of QBE Insurance Group, has acquired Washington-based Seattle Specialty Insurance Services.

Seattle Specialty Insurance Services, specializing in lender-placed commercial and residential property, auto and flood risks, has been providing insurance, operational support and risk management solutions since 1992.

Following the acquisition, Seattle Specialty Insurance Services will operate as a wholly owned subsidiary of Sterling National and will continue to operate under the leadership of founder, president and CEO Rick Pedack.

Sterling National CEO Bill Krochalis said that Rick and his management team have built a strong platform to provide middle market financial institutions with critical insurance outsourcing and risk mitigation support.

QBE CEO for the Americas John Rumpler said that the company is looking forward to providing the financial foundation for the Seattle Specialty team to accelerate growth in their target market.