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%.
The company said its insurance profit margin was down from 14.5% in 2010 to 9.5% in 2011, and that its results had been hit by large individual risk and catastrophe claims.
QBE said its COR of 95.5%
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