Latin American risk mars QBE's report card

By Stephen Bartholomeusz

QBE has also been impacted by higher than expected large individual risk claims which, with the Argentinian issues, will push the group’s combined operating ratio up from the consensus estimate of 93 per cent to around 96 to 97 per cent.

The program involves simplifying the group’s previously complex structure – it has been likened to a loose federation of businesses – to create a more centrally directed and controlled business with a much lower-cost operating platform.

The troubled North American business, which has been the source of massive write-offs, is generating underwriting profits and an improved combined operating ratio even as QBE continues to reduce its cost base and 'right size' the business.

Read more here: Business Spectator

    

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