QBE records 2003 profits of £307m
Australian insurer QBE more than doubled its profit after tax in 2003 - up from Aus$279m (£150m) to ...
Australian insurer QBE more than doubled its profit after tax in 2003 - up from Aus$279m (£150m) to Aus$572m - following higher insurance profit margins and improvement in equity markets.
Gross written premium was up 8% to Aus$8.35bn and net earned premium was up 7% to Aus$6.04bn.
QBE's European operations posted a combined operating ratio of 94.7% - up from 98.9%. Gross earned premium rose 9% to Aus$2.3bn.
The insurer's Lloyd's division, Limit Underwriting, reported a combined operating ratio of
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