QBE clawed by cats

A string of catastrophes late in 2011 will hit QBE Insurance’s profitability. But premium increases mean a recovery is already in prospect.

There have been two very bad days in Frank O’Halloran’s 14-year tenure as QBE Insurance chief executive. The first was 17 September 2001, when he was forced to admit that QBE’s reinsurance protection was insufficient to cover the September 2001 terrorist attacks, forcing a capital raising.


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