qbe group financial performance and strength. 2 contents key slides/s02/financial performance &...
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QBE GroupFinancial performance and strength
2
Contents
Key Slides/S02/Financial Performance & Strength/v25
Page nos
QBE’s position in the market 3
Offices located in over 40 countries 4
Security ratings 5
Financial strength (US$) 6
Financial strength (£) 7
Financial strength (€) 8
5 year historical overview – presented in US Dollars 9
QBE Group 10 year history (US$) 10
QBE Group 10 year history (£) 11
QBE Group 10 year history (€) 12
QBE financial performance 13
Disclaimer 14
3
QBE’s position in the market
• In the top 20 insurance/reinsurance businesses around the world measured by net written premium
• In the top quartile by underwriting profitability and return on equity
• Strong culture of leadership, business acumen and integrity
• Our minimum return on equity targets unchanged for each of our products and our businesses
• QBE culture is supported by a programme developed in-house called ‘ONE QBE’
• Small turnover of our senior management and technical staff
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4
Offices located in over 40 countries
Key Slides/S02/Financial Performance & Strength/v25
Our people are selected for their ability, experience, potential and ‘can do’ approach to their work.
Australia Asia Pacific Europe North America Latin America
2,600
1,5005,400
4,0001,900
5
Security ratings
Key Slides/S02/Financial Performance & Strength/v25
Company Standard & Poor’s
Fitch Ratings
A.M. Best
QBE Insurance (Europe) Limited A+ (negative) A+ (negative) A (negative)
QBE Re (Europe) Limited A+ (negative) A+ (negative) A (negative)
Date of affirmation: 12 December 2013 11 December 2013 12 December 2013
Insurer financial strength ratings
6
Financial strength (US$)
Key Slides/S02/Financial Performance & Strength/v25
Group operating performance 2013 (US$M) 2012 (US$M)
Gross Written Premium17,975 18,434
Net Earned Premium15,396 15,798
Underwriting profit341 453
Combined Operating Ratio97.8% 97.1%
Insurance profit841 1,262
Insurance profit to net earned premium5.5% 8.0%
Investment income801 1,216
Net loss after income tax(254) 761
7
Financial strength (£)
Key Slides/S02/Financial Performance & Strength/v25
Group operating performance 2013 (£M) 2012 (£M)
Gross Written Premium11,436 11,598
Net Earned Premium9,795 9,940
Underwriting profit217 285
Combined Operating Ratio97.8% 97.1%
Insurance profit535 794
Insurance profit to net earned premium5.5% 8.0%
Investment income510 765
Net loss after income tax(162) 479
8
Financial strength (€)
Key Slides/S02/Financial Performance & Strength/v25
Group operating performance 2013 (€M) 2012 (€M)
Gross Written Premium13,516 14,282
Net Earned Premium11,577 12,240
Underwriting profit256 351
Combined Operating Ratio97.8% 97.1%
Insurance profit632 978
Insurance profit to net earned premium5.5% 8.0%
Investment income602 942
Net loss after income tax(191) 590
9
5 year historical overview – presented in US Dollars
Key Slides/S02/Financial Performance & Strength/v25
Group operating performance
2013 (US$M)
2012 (US$M)
2011 (US$M)
2010 (US$M)
2009 (US$M)
Gross Written Premium 17,975 18,434 18,291 13,629 11,239
Gross Earned Premium 17,889 18,341 17,840 13,432 10,943
Net Earned Premium 15,396 15,798 15,359 11,362 9,446
Shareholders’ Funds 10,356 11,358 10,386 10,311 9,164
Combined Operating Ratio 97.8% 97.1% 96.8% 89.7% 89.6%
10
QBE Group 10 year history (US$)
Key Slides/S02/Financial Performance & Strength/v25
6,484 7,171 7,839
10,391 11,015 11,239
13,629
18,291 18,434 17,975
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Gross written premium year ended 31 DecemberUS$M
11
Based on average exchange rates January to December 2013 US$ to GBP – 1.571766
4,1254,562 4,987
6,611 7,008 7,151
8,671
11,637 11,72811,436
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Gross written premium year ended 31 December
QBE Group 10 year history (£)
Key Slides/S02/Financial Performance & Strength/v25
£M
12
4,8765,392
5,894
7,813 8,283 8,451
10,248
13,754 13,86113,516
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Gross written premium year ended 31 December
QBE Group 10 year history (€)
Key Slides/S02/Financial Performance & Strength/v25
€M
13
QBE financial performance
• Consistently produced underwriting profits and return on equity in top quartile of top 20 global insurance companies
• Maintain focus on bottom line
• Quality not quantity
• Our proven strategy of growth mainly through acquisitions and focus on profitability to continue
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14
The information contained herein has been prepared by QBE Insurance Group Limited or one of its subsidiaries (“the QBE Group”). Such information is confidential and is being provided to you solely for your information. It is not intended to create any duty towards you or any other business or legal relationship. The QBE Group makes no warranty or representation of any kind in respect of this information, in particular as to its accuracy, completeness, timeliness or suitability for your purpose. To the fullest extent permitted by law, the QBE Group disclaims any responsibility or liability for any loss or damage suffered or any costs incurred arising out of or in connection with your reliance on the information contained herein.
Some of the information in this presentation may contain projections or other forward-looking statements regarding future events or the future financial performance of QBE. The inclusion of such forward-looking information shall not be regarded as a representation by QBE or any other person that the objectives or plans of QBE will be achieved. QBE undertakes no obligation to publicly update or publicly revise any forward-looking statement, whether as a result of new information, future events or otherwise.
By accepting a copy of this presentation, you agree to be bound by the foregoing limitations and conditions and, in particular, will be taken to have represented, warranted and undertaken that you have read and agree to comply with the contents of this disclaimer.
The reproduction or transmission of all or part of this document, whether by photocopying or storing in any medium by electronic means or otherwise, without the written permission of the owner, is prohibited.
© QBE European Operations 2014.
Disclaimer
Key Slides/S02/Financial Performance & Strength/v25
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