QBE Insurance
From Wikipedia, the free encyclopedia
| QBE Insurance Group Limited | |
|---|---|
| Image:QBE Logo.gif | |
| Type | Public ASX: QBE |
| Founded | 1973 |
| Headquarters | Sydney, Image:Flag of Australia.svg Australia |
| Key people | Mr John Cloney (Chairman, Director) Mr Francis M O'Halloran (Director, CEO) |
| Industry | Insurance |
| Products | General and reinsurance services |
| Employees | 7,900 at 27 Feb 2007 |
| 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. It has offices in 42 countries.
[edit] 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 and the Perth Glory of the Hyundai A-League, and provincial New Zealand Rugby team, North Harbour. [3]
