QBE: Result 2014

QBE is shedding unprofitable businesses but it's not out of the woods yet.

When QBE snapped up HIH’s Argentinian insurance business for $24m in 2001, previous chief executive Frank O’Halloran said: ‘The acquisition provides QBE with a unique opportunity to expand into general and group life insurance in the largest Latin American markets. The acquisitions are at a price which are expected to be earnings per share positive in year one’. And that they were – in year one.

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