Record profit for QBE
QBE Insurance Group has reported a strong result for the half year to June 30, 2007, with profit up 56 per cent on the back of a 15 per cent increase in revenue.
The company told the Australian Stock Exchange the half-year profit of $921 million represented a record, with insurance profit before tax increasing by 41 per cent to $1,053 million.
The directors attributed the strong result to a continued low frequency and severity of claims combined with higher investment yields and the inclusion of recent US acquisitions.
They said the Australian Asia Pacific division had been among those that had produced higher insurance profits when compared to the same period last year.
Recommended for you
In this episode of Relative Return, host Maja Garaca Djurdjevic chats with Chris McGibbon, global head of real estate at Nuveen, about the long-term outlook and why the “knife has stopped falling” in property.
In this new episode of The Manager Mix, host Laura Dew speaks to Nick Paul, institutional portfolio manager at MFS Investment Management to delve into everything small and mid-cap equities.
In this episode of Relative Return, host Laura Dew chats with Kellie Wood, head of fixed income and deputy head of fixed income and multi-asset at Schroders Australia, to discuss why fixed income is returning to favour after a 12-year wait.
In this episode of Relative Return, host Laura Dew speaks with Michael Hunstad, deputy chief investment officer and chief investment officer of global equities at Northern Trust Asset Management, to debunk myths around index investing.