QBE to cut 700 jobs

QBE is to cut up to 700 positions across Europe, Australia and the US over the next few years.

Profits up at QBE

QBE has reported an 8% rise in net profit after tax to US$761m [£501.8m] for 2012 along with gross written premiums (GWP) of $18.4bn, up a modest 1% on 2011.

Equity owner reports UK loss

Insurance Australia Group (IAG) has reported a loss of AU$7m (£4.77m) for the first half of the financial year 2012 for its UK division.

QBE maintains rating status despite profit warning

Credit rating agencies Fitch and AM Best have both reaffirmed their ‘excellent’ level ratings on QBE following it announcement on 12 January that group profits would be up to 50% lower than the $1.3bn (£834m) announced in 2010.

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