Company profile: QBE

QBE Insurance Group increased its gross premium income by 33% to A$3.6bn for the year ending 30 June 2000. This was largely due to acquisitions the company made during the year and included specialist UK employers liability insurer Iron Trades in December 1999 and general insurance companies in Moldova, Slovakia and Macedonia. The acquisition of Lloyds managing agency Limit in August 2000 means QBE now supplies about 9% of the capacity of the Lloyds market. Together, the Iron Trades and Limit acquisitions will add about $1.2bn to QBEs gross revenue and over $2.5bn to its investments.