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Current Price Data+
Current Price
Open
High
Low
Last Close
Volume
Price Movement
$ 21.410
$ 21.110
$ 21.490
$ 21.110
$ 21.100
10,543,743
$ 0.310 1.469 %
Current Broker Consensus Recommendation
Recommendation :
Hold
Recommendation Date :
5th Mar 2010
12 Month Target Price (average) :
$23.307
Brokers Surveyed :
10
Market Statistics
% of Market:
1.8600
% of Sector:
4.0400
Sector:
Financials
Industry Group:
Insurance
Industry:
Insurance
Company Overview
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.
Financial Summary
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 %
2007A
1,925
1,946
218.8
26.1
9.8
0.5
0.5
122.0
5.7
55
25.8
2008A
1,859
1,392
153.7
-29.7
13.9
0.7
0.7
126.0
5.9
20
14.9
2009A
1,970
1,967
189.9
23.5
11.3
0.6
0.6
128.0
6.0
20
18.8
1NPAT is normalised by removing non-recurring items and goodwill. All the above statistics are derived from normalised earnings.
Sydney Morning Herald 10/03/2010 | THE chief executive of the Bank of Queensland, David Liddy, is looking to pull off one more big acquisition before he brings down the curtain on a banking career of 40 years, including 10 at the helm of the Brisbane institution.
The Age 10/03/2010 | THE $9.6 billion push by AXA Asia Pacific's major shareholder to get its hands on the Australian fund manager's Asian operations has been reinforced by a surge in new business in the region.
Sydney Morning Herald 10/03/2010 | THE $9.6 billion push by AXA Asia Pacific's major shareholder to get its hands on the fund manager's Asian operations has been reinforced by a surge in new business in the region since the Australian company declared its full-year results.
The Age 10/03/2010 | ANZ has confirmed it has settled a legal dispute with Steve Targett, the former head of the bank's institutional business, who sued for $57 million after being passed over as chief executive.
The Age 10/03/2010 | THE jobs market has turned white hot, with newspaper job ads being placed at a rate not seen since the onset of the financial crisis.
$ 21.410
