QBE’s performance pitted against Aviva, Allianz, AXA, RSA, Zurich
QBE Insurance Europe Limited (QIEL) released its results on Companies House last week. The QBE subsidiary company, which excludes the Lloyd’s platform, is a special commercial insurer writing business in the UK and Europe. It’s combined operating ratio was 105.6% for 2011.
Here we compare it to rival UK insurers’ performance. QBE’s business mix is comprised of UK and European risks, whereas its peers (below) are dominated by UK.
It also does not have a large personal lines book, something which has helped rivals improve UK performance following steep motor rate rises.
However, QBE’s book is heavily skewed towards liability, a sector which has suffered badly during the economic downturn.
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