QBE Insurance

QBE Insurance Group Limited is Australia's largest global insurer. It provides insurance services mainly to Australia, America, Europe and Asia Pacific region. QBE has 17000 employees in 38 countries worldwide. As of Aug 2012, QBE was ranked among the world's top general insurers. QBE has market capitalisation of A$ 18.6 billion and represents 2.22% of the ASX 200 index.

The company reported a 2014 profit after tax of $742 million and an insurance profit margin of 7.6%, with profit up $1 billion on the prior year. The annual report describes the result as "encouraging and particularly strong".

QBE was listed on the Australian Stock Exchange in 1973 from the merger of three companies whose names represent the letters of the combined company, Queensland Insurance, Bankers' and Traders' Insurance Company, and Equitable Life and General Insurance Co., and its founding chairman was J.D.O. Burns.

Since then, QBE has continued to acquire many companies. For example, in February 2007, it acquired Mexican insurer Seguros Cumbre SA de CV, whose net tangible assets were estimated at $26 million, and American insurer General Casualty Insurance. In 2011 QBE purchased Balboa Insurance of California, USA from Bank of America.