We are delighted to announce QBE as our Head Sponsor as we embark on the Woodvale 2009 Atlantic Rowing Race on-board the "QBE Insurance Challenge."
Mo Kang, HR Director at QBE European Operations, said:
"QBE is pleased to be supporting two extremely worthy causes through its financial backing of the QBE Insurance Challenge. We are, of course, very proud to have an employee involved in the challenge and we will be giving our other staff every opportunity to share in the team's progress, both in the run-up to and during the race. We very much look forward to hearing of the boat's success."
QBE across the UK
Under the leadership of Managing Director, Terry Whittaker, QBE operates seven UK regional underwriting centres - Birmingham, Bristol, Chelmsford, Glasgow, Leeds Manchester, Stafford. Each centre offers market leading products across the full spectrum of property, casualty, professional indemnity, trade credit, and motor insurance on both a combined and a standalone basis.
QBE in Europe
QBE's European Operations, which accounts for 42% of QBE Group turnover, is a leading specialist in London market and European commercial lines business. Active in both the Lloyd's and company market, QBE offers considerable diversity to the broking community. Structured around eight product-focused underwriting divisions - casualty, QBE Re Europe, property, motor, marine & energy, specialty, aviation - all of our operations have the ability to write on both Lloyd's and company market paper. The group also includes P&I specialist, British Marine. In addition to the London Market, QBE operates from seven UK-regional centres and has a presence in 15 European countries.
QBE Globally
QBE Insurance Group is one of the world's leading international insurers and reinsurers. Headquartered in Sydney and listed on the Australian Stock Exchange, we operate out of 45 countries, having a presence in all key insurance markets across the globe. For the year ended 31 December 2007, the company underwrote gross written premium of £5.2bn and held shareholders' funds of £3.7bn.
Since 1981, QBE Insurance Group has successfully completed 100 acquisitions including Limit Underwriting plc in 2000 and Praetorian Financial Group and Wintherthur US in 2007.
The Group consists of four operational divisions: our European Operations, which are managed from London, the Americas, which are managed from New York, and the Australia and Asia Pacific operations which are both managed from Sydney.
Appetite for Risk
As a lead underwriter in our chosen markets, QBE is known around the globe for its healthy appetite for risk and willingness to work flexibly in partnership with brokers and clients. From policy inception to claims settlement, QBE uses its market expertise to understand the particular needs of each client, tailoring solutions to fit. We do not believe that one size fits all or that we should follow what other insurers do and are always willing to take a view on specialist risks.
Ratings
Standard & Poor's insurer financial strength and counterparty credit rating for QBE's main insurance subsidiaries is A+ (Stable). Fitch Ratings insurer financial strength rating for QBE's main underwriting subsidiaries is A+. Fitch has also affirmed QBE's long-term credit rating at A and its outlook for all ratings is Positive. A. M. Best's financial strength rating of the QBE Group of companies is A (Excellent).
All figures are correct as at 31 December 2007