| Type | Public ASX: QBE |
|---|---|
| Industry | Insurance |
| Founded | 1886 |
| Headquarters | Sydney, Australia |
| Key people | Ms Belinda Hutchinson (Chairman, Director) Mr Francis M O'Halloran (Director, CEO) |
| 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. Although the company is widely diversified, it is weighted towards property, motor vehicle and marine insurance.
One of the largest companies in Australia, QBE has market capitalisation of A$18.6 billion, and represents 2.22% of the ASX 200 index. The company reported a 2009 profit of $1.970 billion. [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] and its founding chairman was John Lawes. [3]
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. QBE is also the current Insurance Partner for English Premiership Rugby Union [4] and are Official Insurance Partner of England Rugby. [5]. They employ approximately 13,000 people worldwide.
Frank O’Halloran, the CEO of the company, has been with the company for over thirty years. He was appointed chief financial officer in 1982, joined the board as director of finance from 1987 to 1994 and was director of operations from 1994 to 1997.
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