QBE Insurance
Encyclopedia
QBE Insurance Group Limited is an Australia
n 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. http://www.group.qbe.com/Investor-Information/Financial-Reports/Insurance.html
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., http://www.group.qbe.com/About-QBE/Our-History/Insurance.html and its founding chairman was John Lawes
. http://books.google.com.au/books?id=hug6z1_Pe_IC&pg=PA364&lpg=PA364&dq=John+Lawes+QBE&source=bl&ots=YQPglvzlLE&sig=WsPw_3aRt7-BfPvFyYISoondfOQ&hl=en&ei=q8GGTr-tApGUiAedx6myDw&sa=X&oi=book_result&ct=result&resnum=3&sqi=2&ved=0CC8Q6AEwAg#v=onepage&q=John%20Lawes%20British&f=false
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 http://www.qbeeurope.com/documents/Announcements/21%20Oct%2009.QBE%20and%20Premier%20Rugby%20announce%20sponsorship%20deal.pdf and are Official Insurance Partner of England Rugby. http://www.qbeeurope.com/documents/Announcements/03%20Feb%2010.ENGLAND%20RUGBY%20STARS%20LAUNCH%20RFU%20PARTNERSHIP.pdf. 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.
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
n based general insurance provider, providing insurance services mainly to the Asia Pacific region, but also America
Americas
The Americas, or America , are lands in the Western hemisphere, also known as the New World. In English, the plural form the Americas is often used to refer to the landmasses of North America and South America with their associated islands and regions, while the singular form America is primarily...
and Europe
Europe
Europe is, by convention, one of the world's seven continents. Comprising the westernmost peninsula of Eurasia, Europe is generally 'divided' from Asia to its east by the watershed divides of the Ural and Caucasus Mountains, the Ural River, the Caspian and Black Seas, and the waterways connecting...
(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
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
, 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. http://www.group.qbe.com/Investor-Information/Financial-Reports/Insurance.html
QBE was listed on the Australian Stock Exchange
Australian Stock Exchange
The Australian Securities Exchange was created by the merger of the Australian Stock Exchange and the Sydney Futures Exchange in July 2006. It is the primary stock exchange group in Australia....
in 1973 from the merger of Queensland Insurance, Bankers' and Traders' Insurance Company, and The Equitable Probate and General Insurance Co., http://www.group.qbe.com/About-QBE/Our-History/Insurance.html and its founding chairman was John Lawes
John Lawes (company director)
John Frederick Renshaw Lawes was an Australian company director and chairman of QBE Insurance. -Early life:Lawes was born in Petersham, New South Wales. His father, Dr Charles Lawes, was a medical graduate of the University of Sydney and John was one of four brothers with one sister...
. http://books.google.com.au/books?id=hug6z1_Pe_IC&pg=PA364&lpg=PA364&dq=John+Lawes+QBE&source=bl&ots=YQPglvzlLE&sig=WsPw_3aRt7-BfPvFyYISoondfOQ&hl=en&ei=q8GGTr-tApGUiAedx6myDw&sa=X&oi=book_result&ct=result&resnum=3&sqi=2&ved=0CC8Q6AEwAg#v=onepage&q=John%20Lawes%20British&f=false
Since then, QBE has continued to acquire many companies. For example in February 2007, it acquired Mexican
Mexico
The United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of...
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
Sydney Swans
The Sydney Swans Football Club is an Australian rules football club which plays in the Australian Football League . The club is based in Sydney, New South Wales. The club, founded in 1874, was known as the South Melbourne Football Club until it relocated to Sydney in 1982 to become the Sydney...
of the Australian Football League
Australian Football League
The Australian Football League is both the governing body and the major professional competition in the sport of Australian rules football...
, the NSW Swifts of netball's trans-Tasman ANZ Championship
ANZ Championship
The ANZ Championship is the pre-eminent netball league in the world. The competition is held annually between April and July, comprising 69 matches played over 17 weeks. It is contested by ten teams, five from Australia and five from New Zealand...
, the Perth Glory of the Hyundai A-League and provincial New Zealand Rugby team, North Harbour
North Harbour Rugby Union
The North Harbour Rugby Union , commonly referred to colloquially as North Harbour or simply Harbour, is a provincial rugby team which competes in the ITM Cup , the successor to the country's former domestic competition, the National Provincial Championship .-Area:Harbour Rugby encompasses a...
.
QBE is also the current Insurance Partner for English Premiership Rugby Union http://www.qbeeurope.com/documents/Announcements/21%20Oct%2009.QBE%20and%20Premier%20Rugby%20announce%20sponsorship%20deal.pdf and are Official Insurance Partner of England Rugby. http://www.qbeeurope.com/documents/Announcements/03%20Feb%2010.ENGLAND%20RUGBY%20STARS%20LAUNCH%20RFU%20PARTNERSHIP.pdf. 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.