Apr 29 2013 21:36 BST Lloyd's of London veteran gets government insurance scrutiny powersA Lloyd's of London veteran is to be given legal powers to scrutinise public bodies' buying of insurance in the latest front of a battle by ministers to secure value for money from government suppliers. Francis Maude, cabinet office minister, has given one of the new "crown representatives", six businessmenBy Alistair Gray and Sarah Neville |
Feb 26 2013 11:17 GMT QBE: bid to be valued once moreIt is hard no longer being adored. QBE was for years feted as a model of how to grow by acquisition. But since the insurer stunned with a profits warning just over a year ago, it has underperformed its global peers by a quarter and its fellow blue-chip Australians by |
Feb 26 2013 07:58 GMT QBE vows to focus on cost savingsQBE has promised a sharper focus on cost and productivity as Australia's biggest insurer by market capitalisation looks to consolidate after years of acquisition-led growth. "QBE has been a hugely successful organisation over the last 15 years, but as the world changes, we need to evolve," John Neal, chief executive,By Neil Hume in Sydney |
Nov 13 2012 11:13 GMT Business sentiment fall hits Sydney indexAustralian shares led losses in the Asia-Pacific region on Tuesday as business sentiment fell, while broader markets remained in thrall of the fiscal challenges facing the US and eurozone. In Sydney, the S&P/ASX 200 index fell 1.5 per cent to 4,379.81 as National Australia Bank's monthly business conditions index fellBy Song Jung-a in Seoul and Neil Dennis |
Nov 12 2012 14:57 GMT QBE - Sandy stormsWhen QBE halved last year's profits forecast in January, its shares dropped 13 per cent. Now the insurer has knocked a third off this year's expected earnings and its shares fell 8 per cent. That is roughly commensurate. Natural disasters headlined both warnings. But only about a third of QBE's |
Nov 12 2012 11:30 GMT QBE warns of big Hurricane Sandy hitQBE has become the first big insurance company to warn of a significant hit to profits because of Hurricane Sandy, saying that industry losses could eventually top $20bn. In an announcement that surprised the market, Sydney-based QBE on Monday said it was facing US$350m-$450m in storm-related losses that would erodeBy Neil Hume in Sydney |
Nov 12 2012 10:12 GMT Nikkei drops as Japanese economy shrinksAsian markets were mixed as concerns about Japan's economy countered positive trade data from China. The FTSE Asia Pacific index fell 0.4 per cent to 234.48, headed for its lowest level in a month, while Japan's Nikkei 225 Stock Average shed 0.9 per cent to 8,676.44. Sentiment was dented byBy Song Jung-a in Seoul and Neil Dennis |
Aug 26 2012 21:36 BST Insurers face big agriculture lossesThe insurance industry faces its biggest ever loss in agriculture as the worst drought to hit the US in more than half a century devastates the country's multibillion-dollar corn and soyabean crops, triggering large claims. Insurance companies providing so-called crop protection will recoup part of their loss, nonetheless, as theBy Javier Blas and Alistair Gray in London |
Jun 06 2012 21:55 BST Micro-insurers flock to Brazil's favelasRicardo Pires de Souza, a tattooed boxer-turned-insurance salesman, says the first trick to selling life insurance in Santa Marta, a Rio de Janeiro slum reclaimed from drug gangs by military police, is not to wear a suit. "People would never trust you and it's too hot anyway," he says, climbingBy Samantha Pearson in Rio de Janeiro |
Apr 22 2012 04:36 BST Asia fund focuses on cashflowThe First State Asia Pacific Leaders fund has outperformed its peers in the past year by avoiding economically sensitive stocks and focusing on companies with strong cashflow, high barriers to entry and a real competitive edge. In the 12 months to April 4 2012, the £5.8bn fund has outstripped theBy Simona Stankovska |
