QBE 0.34% $11.86 qbe insurance group limited

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    QBE INSURANCE GROUP Last trade $6.650 at 15:07 18/6/2002

    Sydney - Tuesday - June 18: (RWE) - QBE Insurance Group Ltd
    today announced it remained on track to achieve its 2002 target of an
    insurance profit of 6 per cent to 6.5 per cent of net earned premium of
    around $5.5 billion.
    The insurer said it was making announcement "in light of the
    weakness in QBE's share price, which would appear to be as a result of
    uninformed comments in the market".
    QBE said its overall premium rate increases around the world
    were higher than the average 20 per cent rate increases previously
    The company's claims experience in the first five-and-a-half
    months of 2002 was lower than anticipated.
    Commission and expenses ratios were still on budget.
    QBE's net loss from the September 11 attacks (included in the
    2001 result) remained unchanged at $252 million after tax.
    Directors remained confident that recoveries from reinsurers
    would be received.
    QBE was not expecting the impact of the strengthening Australian
    dollar to have a material effect on the 2002 results.
    Chief executive Mr Frank O'Halloran said: "I am very pleased by
    the results to date from all five insurance divisions, which are
    performing strongly, including Lloyd's.
    "While volatile bond and equity markets may affect the movement
    in unrealised gains at balance date, this is not likely to affect
    insurance profit performance."
    QBE rose 7c to $6.62 after trading as low as $6.05 today.

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Mkt cap ! $17.59B
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$11.88 $11.97 $11.81 $48.07M 4.046M

Buyers (Bids)

No. Vol. Price($)
2 12880 $11.85

Sellers (Offers)

Price($) Vol. No.
$11.86 18035 1
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Last trade - 16.10pm 05/07/2022 (20 minute delay) ?
-0.040 ( 0.52 %)
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$11.93 $11.97 $11.81 652544
Last updated 15.59pm 05/07/2022 (live) ?
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