Qbe posts a 28% increase in net profit after tax for the six months to December 31, 2000, to $101m (£36m)
For the calendar year to December 31, net profit was $179m (£64m), up 36% from $132m (£47m) in 1999.
The acquisition of Iron Trades and the Lloyd's managing agent Limit contributed to an 80% rise in growth to $2.5bn (£896m), and net earned premium, which increased 68% to $1,9bn (£685m).
QBE's managing director Frank O'Halloran said: “The acquisitions and initiatives over the past 18 months have been very positive for growth and profitability and have provided the group with a strong base to take advantage of the current upturn in the
insurance cycle.”
He added: “Our technical insurance results were particularly pleasing, with one of the best results ever recorded by our general insurance operations in Australia.”
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
