QBE's 2012 profit below forecast; 700 jobs to be offshored
Global insurer QBE had an 8% increase in profit last year, but this fell below expectations as natural catastrophes hit the bottom line.
QBE's net profit was $761m in 2012 compared with $704m in 2011, below its forecast of $820m. The dividend fell from 25 (Australian) cents a share in 2011 to 10 cents per share.
Gross written premium
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