QBE ratings unchanged despite cat losses

AM Best has left the ratings of QBE unchanged despite the company almost halving its forecast profit after tax because of catastrophe losses.

On 12 January QBE cut expected profits for 2011 to a level between 40% and 50% lower than the $1.3bn it reported in 2010.

AM Best said: "Higher than expected catastrophe losses in the second half of

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