How much QBE Insurance Group will pay Bank of America for the insurance assets and liabilities of Balboa Insurance Company, and the rights for QBE to sell insurance to Balboa customers, is something the buyer and vendor have left ambiguous since they announced the sale on Friday morning.QBE, in an announcement to the Australian Securities Exchange, said it will make an upfront payment of US$700 million to B of A.B of A said, in its announcement, that it expected to receive an upfront payment of approximately US$700 million subject to certain closing and other adjustments, "as well as additional future payments".QBE made no mention of those future payment and they may relate to the right to continue distributing insurance to a Balboa customer list for 10 years.The insurance lines covered by the agreement are lender-placed home insurance (this covers lenders when borrowers neglect to pay for insurance themselves) and related consumer lines, but excludes lenders' mortgage insurance.This business line will now be QBE's largest in the US market and will account for almost one-fifth of its annual premium revenue.