Latest QBE Headlines
All the headlines from our QBE Topic Page, ordered by recency.
HSBC Close to $1B Insurance Sale to AXA, QBE: Reuters
Mar 1 2012 // British bank HSBC Holdings Plc is nearing a deal to sell its general insurance business for about $1 billion, sources familiar with the matter told Reuters, with French insurer AXA SA and Australia’s QBE Insurance...
Best Sees No Ratings Change for QBE Despite Lowered Profit Estimates
Jan 24 2012 // A.M. Best Europe – Rating Services Limited has commented that the ratings of Australia’s QBE Insurance Group Limited and its main insurance subsidiaries are unchanged following the market update issued by QBE on...
Australia’s QBE Slashes 2011 Forecast; Shares Dive
Jan 12 2012 // Australia’s QBE Insurance Group said on Thursday its 2011 net profit would fall by as much as 50 percent after record catastrophe claims and it would cut its final dividend, sending its shares down as much as a...
Australia’s QBE Insurance Shares Halted; Balboa Concerns Cited
Jan 12 2012 // Shares in QBE Insurance Group, Australia’s top insurer, were placed in a trading halt on Thursday ahead of the release of its preliminary 2011 results and amid concerns about an investigation into over-charging...
Ratings: QBE Del Istmo, Asia Capital Re, Lloyd’s Syndicate 570 (Atrium)
Jan 9 2012 // A.M. Best Co. has assigned a financial strength rating of ‘A-‘ (Excellent) and issuer credit ratings of “a-” to Panama-based QBE Del Istmo Reinsurance Inc, Del Istmo Assurance Corp and Liffey...
Lloyd’s Ascot in Underwriting Deal for Power Generation with Brit, QBE, Sciemus
Jan 4 2012 // lloyd’s insurer Ascot Underwriting Ltd. announced that it has formed the Strategic Power Consortium, which it described as a “dedicated technical underwriting vehicle for the power and utilities...
QBE to Acquire Puerto Rico-based Optima Insurance Group
Dec 22 2011 // The QBE Insurance Group announced that it has agreed to acquire Optima Insurance Group, an underwriting group in Puerto Rico that posted an estimated $100 million in gross written premium in 2011. QBE said the...
Best Affirms QBE’s US Subsidiaries Ratings; Upgrades North Pointe
Oct 13 2011 // A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A’ (Excellent) from ‘A-‘ (Excellent) and issuer credit rating (ICR) to “a+” from “a-” of Harrisburg,...
Best Affirms QBE and Subs Ratings; Outlook Stable
Oct 12 2011 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength ratings (FSR) of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a+” of UK-based QBE Insurance (Europe)...
Best Removes Balboa Insurance and Members Ratings from ‘Under Review’
Oct 11 2011 // A.M. Best Co. has removed from under review with negative implications and affirmed the financial strength rating of ‘A’ (Excellent) and the issuer credit ratings of “a” of Balboa Insurance Group...
Ratings: Commerce Protective, Stonington/Lantana, Farmers Mutual, One Beacon Lloyd’s, Texas Medical
Sep 8 2011 // A.M. Best Co. has downgraded the financial strength rating to ‘B+’ (Good) from ‘B++’ (Good) and issuer credit rating to ‘bbb-‘ from ‘bbb’ of Pennsylvania-based Commerce...
Travelers UK Names Sawyer Professional Indemnity Manager
Sep 7 2011 // Travelers UK branch announced that David Sawyer has been appointed Assistant General Manager responsible for the management of the professional indemnity portfolio for Travelers Insurance Company Ltd. He joins Travelers...
QBE 1st Half Net Profits up 53% to US$673 Million
Aug 19 2011 // QBE, Australia’s global insurance group, announced a 53 percent increase in the half year net profit after tax of US$673 million. The group noted that this figure was “within the range provided to the market on...
QBE Innovation to be profiled at MarketScout’s Entrepreneurial Insurance Symposium
Aug 10 2011 // Impressive US growth has capture market’s attention DALLAS, August 10, 2011 – Rob Byler, President and Head of Program Business at QBE, will deliver a keynote presentation to over 400 insurance industry executives...
QBE Completes Acquisition of Balboa Insurance Portfolio
Jun 2 2011 // Australia’s QBE announced it has completed acquisition of Balboa’s Insurance portfolio, following the agreement with Balboa’s parent, Bank of America, to do so last February. QBE noted that the...
Business Moves
Mar 21 2011 // Maritime General Agency Maritime General Agency combined three niche marine insurance underwriting facilities into Maritime Program Group: Maritime General Agency, Marine MGA and Windward Marine Underwriters. Maritime...
QBE Completes Acquisition of RenRe’s U.S. Insurance Operations
Mar 8 2011 // Australia’s QBE announced that it has completed its acquisition of the U.S. admitted insurance businesses of Renaissance Re, which include a U.S. crop and small specialist program insurance business. QBE said the...
QBE Group Posts $1.278 Billion 2010 Net Profit; $1.168 Billion Underwriting
Mar 1 2011 // The Australia-based QBE Group reported net after tax profits of *$1.278 billion for 2010, a 17 percent decrease from the $1.532 billion reported for 2009. However, the decline was almost entirely due to a drop in...
Business Moves
Feb 21 2011 // Mercury General, Florida Citing fourth quarter losses in Florida of $19 million, Mercury General said it would begin withdrawing from the state’s homeowners insurance market. The company will send the mandatory...
Best Sees No Change in QBE’s Rating from Balboa Buy
Feb 17 2011 // A.M. Best Europe – Rating Services Limited has commented that the rating of Australia’s QBE Insurance Group Limited is “unchanged following the announcement that it has entered into a ten-year distribution...
