QBE

Insurer, IAG Profits Down


IAG (ASX:IAG), owner of NRMA and RACV, has issued a statement that it expects to report a drop in annual profit for the 2010 fiscal year. A day after competitor, QBE Insurance announced profit forecasts downgrades, Insurance Australia Group have released poor financial figures on what most analysts were already expecting.

IAG Financial Forecasts and Numbers

QBE Insurance Profit Forecast Down


Australian insurance company, QBE Insurance (ASX:QBE) has issued a warning to the share market that its profit forecast is 40 percent lower than last year. As a consequence, company shares have fallen.

Profit Forecast Hit by Investment Losses

QBE Insurance has informed the market that heavy investment losses offset the 20 percent growth in insurance premiums and a 7 percent increase of insurance profit to US$820 million.

Australian Dollar Currency Influences Reporting Season


Currency fluctuations will influence the earnings reports and hence the upcoming company reporting season in Australia.

QBE Insurance Eases Concerns Regarding Large Claims


Internationally renowned insurance company QBE Insurance Group (QBE), which runs businesses in as many as 44 countries is taking necessary steps in response to the growing concern among its investors regarding the possibilities of the company getting exposed to the recent BP oil incident at the Gulf of Mexico claming that the insurer has sufficient reinsurance protection under its belt which will help it to cover any large insurance claim.

Top 3 Losing Stocks of This Week


Toll Holdings (TOL), a company that offers various types of services including full load express and economy freight forwarding service was the worst performer of the ASX100 list for the 7th week of 2010. The company had a market capitalisation of $4755.6 million and lost 18.1 percent or $1.51 to its stock price and was closed for the week at $6.80.

QBE Looks for Further Acquisitions


Renowned insurance company QBE Insurance (QBE), that offers all major lines of insurance covers for personal, commercial and specialist risks in Australia, the Americas, the Asia Pacific region and Europe is expecting to see more opportunities of acquisition in the horizon as the company is looking forward to put a strong balance sheet to work.

Insurance Australia (IAG) Update


Insurance Australia (IAG) has a target price of $3.83 and an under-perform recommendation on the stock from Australian Stockmarket analyst Macquarie Research Equities.

Insurance Australia (IAG): In A Grind

IAG’s CEO, Michael Hawker, has announced his resignation on the back of a loss of key institutional support. His replacement is COO and former Promina CEO, Mr Mike Wilkins. Macquarie Research Equities (MRE) discusses the impacts of this move for the company and the implications of IAG’s global operational review in early July.

The Impact

Insurance Australia Group (IAG) Update


Here is an update on Insurance Australia Group (IAG) from sharemarket analyst Macquarie Research Equities.

Insurance Australia Group (IAG) Revised proposal deemed 'inadequate'

Event: Cannot recommend QBE's latest proposal to shareholders:

IAG's Board today announced that it cannot recommend QBE's latest scheme proposal ($0.90 cash + 0.145 QBE shares) to its shareholders. The Board considers the revised proposal to be (1) priced opportunistically (2) not reflective of IAG's underlying value and potential deal synergies (3) not fully developed.

QBE Insurance Group (QBE) News Update


QBE Insurance Group (QBE) raised its proposed price for each IAG share to $0.90 cash and 0.145 QBE shares (previously $0.70 and 0.142) from Australian stockmarket analyst Macquarie Research Equities.

QBE Insurance Group (QBE) Increases proposed price

Event: Revised offer:

Insurance Sector Update


Here is an insurance sector update from Australian market analyst UBS.

Insurance Sector

108 profitability better, cost inflation up
Gross underwriting margins improving in personal lines:

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