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QBE Insurance

 
Hoover's Profile: QBE Insurance Group Limited
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(Australian:QBE)
Contact Information
QBE Insurance Group Limited
Level 2, 82 Pitt St.
Sydney 2000, Australia
Tel. +61-2-9375-4444
Fax +61-2-9235-3166

Type: Public
On the web: http://www.qbe.com

QBE Insurance Group may be one of Australia's leading insurers, but it also has a hefty global reach. The company offers a variety of general insurance and reinsurance through offices in some 45 countries. QBE provides general property/casualty policies, as well as liability, auto, marine, aviation, energy, accident, workers' compensation, and professional indemnity coverage. The company writes both individual and commercial insurance policies and also administers reinsurance coverage. Its products are sold through direct and independent representative agencies. QBE Insurance Group earns about three-fourths of its revenue outside of Australia.

Key numbers for fiscal year ending December, 2008:
Sales: $8,567.3M
One year growth: (13.8%)
Net income: $1,288.1M
Income growth: (23.9%)

Officers:
Chairman: E. John Cloney
CEO and Director: Frank O'Halloran
COO: Vince McLenaghan

Competitors:
Allianz
Insurance Australia
Nationwide

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Wikipedia: QBE Insurance
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Home > Library > Miscellaneous > Wikipedia
QBE Insurance Group Limited
Type Public
ASX: QBE
Founded 1886
Headquarters Sydney,  Australia
Key people Mr John Cloney (Chairman, Director)
Mr Francis M O'Halloran (Director, CEO)
Industry Insurance
Products General and reinsurance services
Employees in 2009 there are around 13,000 staff in 45 offices worldwide
Website www.qbe.com

QBE Insurance Group Limited (ASX: QBE) is an Australian based general insurance provider, providing insurance services mainly to the Asia Pacific region, but also America and Europe (QBE European Operations). It has offices in 45 countries.

Profit

One of the largest companies in Australia, QBE has market capitalisation of AU$27billion, and represents 2.22% of the ASX 200 index. The company reported a 2006 profit of $1.483billion. [1]

QBE was listed on the Australian Stock Exchange in 1973 from the merger of Queensland Insurance, Bankers' and Traders' Insurance Company, and The Equitable Probate and General Insurance Co. [2]

Since then, QBE has continued to acquire many companies. For example in February 2007, it acquired Mexican insurer Seguros Cumbre SA de CV, whose net tangible assets were estimated at $26million. QBE Insurance is also known for its sponsorship of sports teams, including the Sydney Swans of the Australian Football League, the NSW Swifts of netball's trans-Tasman ANZ Championship, the Perth Glory of the Hyundai A-League and provincial New Zealand Rugby team, North Harbour.[3]

External links

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