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QBE Insurance Group

Hong Kong GI business grows 10%

Hong Kong's Office of the Commissioner of Insurance has revealed that total gross premiums of the Hong Kong general insurance industry in 2011 grew 10.7% to $34.7bn with net premiums up 8.5% to $23.8bn compared with 2010.

QBE finds firms expect two-year recovery

A pre-budget survey by commercial lines insurer QBE has found that 77% of UK businesses expect it to be two years or more before the UK sees a full economic recovery – with half (49%) not expecting a turnaround for three years or more.

Market moves: Insurers are the main movers

Insurers were, once again, the main movers and shakers this week, Ecclesiastical leading the way with the appointment of four new directors, while Allianz, QBE, XL and Arc Legal also welcomed new staff.

HSBC sells GI units to Axa and QBE

Axa and HSBC announced today they have entered into an agreement whereby the French insurance giant would acquire the bank's property and casualty businesses in Hong Kong, Singapore and Mexico.

QBE's results hit by catastrophes

Australian insurer QBE reported gross written premium in Europe of $4,828m (2010: £4,156m) but a combined ratio up five points to 95.5%.

Top 10 news stories

Find out what the market has been reading about this week with the top 10 news stories from www.insuranceinsight.eu

QBE merges divisions under Harries

QBE is merging its casualty international into its professional and financial lines business to form a new division led by financial lines boss David Harries.

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