Assessing QBE's storm damage

As if a record year for natural disasters wasn't enough, the financial crisis has continued to hit QBE's bottom line.

QBE’s Frank O’Halloran had a dismal Christmas and today shared some of his misery with his shareholders, with the QBE share price plunging after he revealed the group’s 2011 earnings have been nearly halved and its final dividend will be slashed by more than 60 per cent – after just about everything that could go wrong for an insurer did go wrong, mostly at year’s end.

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