Last A$10.91 AUD
Change Today -0.09 / -0.82%
Volume 7.8M
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As of 2:10 AM 08/1/14 All times are local (Market data is delayed by at least 15 minutes).

qbe insurance group ltd (QBE) Snapshot

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08/14/13 - A$17.53
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12/18/13 - A$10.04
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qbe insurance group ltd (QBE) Details

QBE Insurance Group Limited provides general insurance and reinsurance solutions. It operates through North American Operations, Latin American Operations, European Operations, Australian & New Zealand Operations, Asia Pacific Operations, and Equator Re segments. The company underwrites general insurance and reinsurance risks; and manages Lloyd’s syndicates, as well as offers investment management services. It offers property, motor and motor casualty, agriculture and bloodstock, public/product liability, workers’ compensation, marine energy and aviation, professional indemnity, financial and credit, accident and health, and other insurance products. QBE Insurance Group Limited was founded in 1886 and is based in Sydney, Australia.

15,455 Employees
Last Reported Date: 02/24/14
Founded in 1886

qbe insurance group ltd (QBE) Top Compensated Officers

Group Chief Executive Officer and Executive D...
Total Annual Compensation: $2.0M
Chief Executive Officer of Australian & New Z...
Total Annual Compensation: $2.0M
Chief Executive Officer of North America Oper...
Total Annual Compensation: $1.7M
Chief Executive Officer of Asia Pacific Opera...
Total Annual Compensation: $750.0K
Chief Executive Officer of Latin America Oper...
Total Annual Compensation: $709.0K
Compensation as of Fiscal Year 2013.

qbe insurance group ltd (QBE) Key Developments

Sources Say QBE May Revive Asset Sale Plan

QBE Insurance Group Ltd. (ASX:QBE) is planning to sell assets. Sources stated that the company is expected to resume the sales process for its $1 billion-plus mid-market US insurance business through Merrill Lynch around September 2014, after it was recently put on hold. Several industry groups are expected to bid for the business when it is back up for sale. According to the news report, it is understood that firms looking to increase market share or move into new geographies are among those most likely to show interest. Sources added that potential suitors may include The Chubb Corporation (NYSE:CB), ACE INA International Holdings, Ltd., Allstate Insurance Company, American International Group, Inc. (NYSE:AIG), The Hartford Financial Services Group, Inc. (NYSE:HIG) (Hartford Insurance), and Zurich, sources said. Sources have said the company could sell Winterthur for the $1.2 billion. According to the news report, QBE declined to comment.

QBE Insurance Group Ltd. Provides Earnings Guidance for the First Half of 2014

QBE Insurance Group Ltd. provided earnings guidance for the first half of 2014. The group's combined operating ratio for the first half is now expected to be 96 - 97% compared with consensus expectations of around 93% and the Group's insurance profit margin for the first half is now likely to be 7 - 8% compared with consensus expectations of around 10%. Net profit after tax for the first half is now expected to be around $390 million.

QBE Insurance Group Gears Up to Amalgamate Two of its Growing Divisions

QBE Insurance Group is gearing up to amalgamate two of its growing divisions - Asia Pacific and Latin America - after a review of its organizational structure, and as the company prepares to unveil its half-year profit results in August. The company announced earlier this month that the Asia Pacific and Latin America businesses, the company's smallest divisions, will merge. David Fried, the company's current Asian chief, who has extensive experience in South American insurance businesses, will lead the new combined division. While its Asian business is doing well, Latin America posted a lacklustre result last year. The cost of higher than expected claims on the back of natural disasters, along with issues about the Argentinian workers' compensation business, has been hampering the unit's performance.


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