QBE Insurance – QBE Shares Company Profile

QBE insurance is based in Australia and is an insurance and reinsurance group with a strong global presence. The company functions mainly in general insurance markets with the majority of its premium derived in the US and Europe. The company has an established history of strong growth through acquisition.

QBE was born back in 1886 when James Burns began the North Old Insurance Co in order to protect his trading company’s cargo and ships. His company grew locally and spread throughout Asia in its many trading economies, Burns opened a Hong Kong office in 1887. The current QBE Insurance Corp. was formed out of a merger of the Old Bankers & Traders Insurance and Equitable Life & General. The company sold its shareholdings in trading companies in 1991, with Burns Philp being the most notable, and proceeded to become a pure insurance and reinsurance company.

QBE has low exposure to equity markets and high usage of reinsurance which is reflected in its conservative approach to risk. QBE carries strong notoriety in the Asia Pacific region, the company also has strong management with a focus on financials and earnings growth.

Major customers for QBE are its policyholders, the vast majority of whom hold corporate, motor, CTP, and / or home and goods insurance policies. Corporate business is mainly transacted through brokers and agents, however in many cases QBE may interact directly with its policy holders. The biggest competitors for QBE include local Australian as well as international general insurance companies like AIG, Chubb, the merged Suncorp / Promina (GIO & AAMI), IAG (NRMA & CGU) and Allianz.

General Information on QBE:

Company Name: QBE Insurance Group Limited
Stock Code: QBE
Website: www.qbe.com
Market Cap ($M): 21,955
Equiv. Shares (M): 1,032

Market Statistics:

% of Market: 1.8300
% of Sector: 3.9878
Sector: Financials
Industry Group: Insurance
Industry: Insurance