 |
QBE Insurance Group Limited (QBE) |
 Print |
|
| Company Name: |
QBE Insurance Group Limited |
| Stock Code: |
QBE |
| Website: |
www.qbe.com |
| Market Cap ($M): |
24,567 |
| Equiv. Shares (M): |
894 |
|
|
 |
|
| Current Price |
Open |
High |
Low |
Last Close |
Volume |
Price Movement |
$ 26.660 |
$ 26.120 |
$ 26.660 |
$ 25.710 |
$ 26.000
|
2,173,517 |
$ 0.660 2.538 %
|
|
| Recommendation : |
Hold
|
| Recommendation Date : |
7th Jan 2009 |
| 12 Month Target Price (average) : |
$28.137 |
| Brokers Surveyed : |
10 |
|
| % of Market: |
3.1000 |
| % of Sector: |
6.4960 |
| Sector: |
Financials |
| Industry Group: |
Insurance |
| Industry: |
Insurance |
|
|
|
|
|
| Company Overview |
| QBE is an Australian insurance and reinsurance group with a strong global presence. The company operates primarily in general insurance markets, with the majority of premium derived from outside of Australia, particularly in the US and Europe. The company has established a strong history of growth by acquisition. |
| Company History |
| In 1886, James Burns started the North Qld Insurance Co to protect his trading company's ships and cargo. This company developed locally and throughout Asia with the trading economies, opening a Hong Kong office in 1887. In 1973, the current QBE was formed through a merger of the Qld Bankers & Traders Insurance and Equitable Life & General. In 1991, the company sold its shareholdings in trading companies (most notably, Burns Philp) and became a pure insurance and reinsurance company. |
| Differentiating Factor |
| QBE has a conservative approach to risk and this is reflected in its high use of reinsurance and low exposure to equity markets. Management is strong with a focus on financials and earnings growth. QBE enjoys a strong brand name in the Asia Pacific region. |
| Major Customers & Competitors |
| QBE's major customers are its policyholders, the majority of whom hold corporate, motor, CTP and/or home and contents insurance policies. In many cases, QBE may deal directly with its policyholders, although corporate business is largely transacted through brokers and agents. QBE's major competitors are local Australian and international general insurance companies such as AIG, Chubb, the merged Suncorp/Promina (GIO & AAMI), IAG (NRMA & CGU) and Allianz. |
|
Year to Dec
|
NPAT
Rep $M |
NPAT1
Adj $M |
EPS
c |
EPS chg
% |
PER
x |
PER rel
All Ords x |
PER rel
Sector x |
DPS
c |
Yield
% |
Franking
% |
ROE
% |
| 2005A |
1,091 |
1,094 |
133.9 |
24.4 |
19.9 |
1.3 |
1.5 |
71.0 |
2.7 |
50 |
24.2 |
| 2006A |
1,483 |
1,493 |
174.5 |
30.3 |
15.3 |
1.2 |
1.3 |
95.0 |
3.6 |
60 |
26.5 |
| 2007A |
1,925 |
1,946 |
218.8 |
25.4 |
12.2 |
1.0 |
1.1 |
122.0 |
4.6 |
55 |
25.8 |
|
1NPAT is normalised by removing non-recurring items and goodwill. All the above statistics are derived from normalised earnings.
|
| QBE |
-4.8664 |
15.6584 |
-19.1291 |
| Sector |
-24.3546 |
-22.3798 |
-44.7211 |
| Market |
-19.7627 |
-27.5434 |
-40.8814 |
|
| P/E (x) |
FY07 |
12.2 |
11.3 |
11.9 |
|
FY08 |
13.3 |
11.6 |
11.3 |
| Yield (%) |
FY07 |
4.6 |
9.4 |
5.9 |
|
FY08 |
4.6 |
9.0 |
6.1 |
| EV/EBIT (x) |
FY07 |
10.1 |
5.3 |
7.9 |
|
FY08 |
11.2 |
5.4 |
7.3 |
| EV/EBITDA (x) |
FY07 |
10.0 |
5.2 |
6.7 |
|
FY08 |
11.1 |
5.3 |
6.1 |
|
| J Cloney |
Chairman |
| F O`Halloran |
Managing Director & CEO |
| L Bleasel |
Director |
| D Boyle |
Director |
| I Hudson |
Director |
| B Hutchinson |
Director |
| C Irby |
Director |
| I Lee |
Director |
|
| F O`Halloran |
Managing Director & CEO |
| V McLenaghan |
Chief Operating Officer |
| N Drabsch |
CFO |
| T Kenny |
President, the Americas |
| S Burns |
CEO, Europe |
| M Goodman |
CEO, Asia Pacific |
| T Ibbotson |
CEO, Australia |
| J Smith |
Group General Manager HR |
| B Nicholls |
Group Chief Actuarial Officer |
|
| 27-Feb-2009 |
Reporting Date for Final Year Result |
| 17-Sep-2008 |
Dividend Date Payable for Half Yearly Result
(61c 20% franked)
|
| 01-Sep-2008 |
Dividend Record Date for Half Yearly Result
(61c 20% franked)
|
| 26-Aug-2008 |
Dividend Ex-Dividend Date for Half Yearly Result
(61c 20% franked)
|
| 21-Aug-2008 |
Reporting Date for Half Yearly Result |
|
|
Data supplied by Aegis Equities Research Pty Limited (ACN 085 293 910).
|
|
Membership benefits...
- 100% entry fee rebates
- Cash back on your managed fund investments with our innovative TrailCap™ program
- Independent research on...
- over 1,000 managed funds
- over 300 ASX-listed Companies
- top performing suburbs/postcodes
- Access to IPOs/floats & other investment offers
- Superior investment tools...
- Portfolio manager
- Watchlists
- Alerts
- Regular investment e-newsletter
|
Advertisement
eNewsletter |
Keep up to date with new investments and important news - subscribe to our FREE weekly eNewsletters. Sign up now! |
Featured Promotions
The Age 7/01/2009 | GROUPS representing hundreds of fund management companies in Australia, the US and Britain have mounted a united front against potential new short-selling rules that, they say, could unfairly punish their industry.
The Age 3/01/2009 | Our half-yearly economic survey finds few causes for optimism, though things may improve later in the year. By Ari Sharp.
The Age 3/01/2009 | USUALLY, whenever I go on holiday, the market falls over although I met another broker recently who reckoned the market fell over whenever he went on holiday.
The Age 2/01/2009 | INVESTORS have another difficult year ahead of them. The Australian sharemarket will open this morning having lost more than 41 per cent of its value during 2008.
The Age 1/01/2009 | IT STARTED as it meant to continue. After just two days of mediocre gains, 2008 produced a grinding 12-day losing streak that culminated in a 7.1 per cent one-day beating.
The Age 1/01/2009 | In the wake of the most volatile year in memory, Matthew Lynn takes a stab at predicting eight things that could happen in the new year.
More...
|
Advertisement
|
