Are you racking your brain over QBE’s meaning or over what services QBE insurance offers?
Or are you looking for a good insurance company in Australia and would like to know about QBE insurance ratings?
In this article, we are going to review the QBE meaning, exactly what QBE stands for, QBE Insurance rating and a lot more information about QBE Insurance Australia.
QBE Meaning and Background Information
As against the computer term QBE which means “query by example“, QBE is Australia’s largest insurer and the name was derived from the merger of three companies. Queensland Insurance, Bankers’ and Traders’ Insurance company and Equitable life and general insurance company. The first letters of each of these companies’ names are represented in QBE.
It all started in 1886 when two Scottish business partners James Burns and Robert Phillips, two entrepreneurs who used insurance to build their businesses, came together to start the North Queensland Insurance Company limited (QI). In no time, the company grew and became super successful, with only 4 years down the line, QI had established 36 locations across Australia and in other major cities of the world – Hong Kong, London, New Zealand, Pacific Islands and Singapore inclusive.
In 1921, James Burns and Robert Phillips also founded the Bankers’ and Traders’ Insurance Company which was consolidated with investments from business holdings of the partners and also derived its name from them.
Few years later after the death of James Burns, his son, James Burns, who was also named after him became the CEO of both companies.
During the economic depression and the WWII both companies survived and in 1959, each purchased a large share of the Equitable probate and general insurance company, about 40% in total. In 1973, the companies merged and went public, becoming the largest insurance company in Australia.
QBE Insurance Rating
QBE Insurance is presently one of the largest insurance groups in the world and is among the top 20 insurers and reinsurers globally. QBE Insurance has an employee capacity of over 11,000 and they now operate in over 27 countries.
Aside from working in the QBE Finance or Reinsurance, you can also get a job as one of the brilliant QBE underwriters. As long as you understand the major challenges faced by insurance underwriters, you will surely scale through this.
Below is a table showing QBE’s latest rating from all four of the major rating agencies that rate the QBE Insurance group limited.
Insurer’s Financial Strength (FSR)
|Standard & Poor’s||A+||Stable||01/06/2018|
Issuer’s Credit Rating (ICR)
|Standard & Poor’s||A-||Stable||01/06/2018|
|AM Best||bbb +||Stable||13/06/2018|
QBE Insurance Contact and Services
QBE offers a wide range of services to its customers. From personal insurance services to business insurance, insurance for institutional customers and reinsurance.
Amongst them are:
Accident & Health insurance
And QBE life insurance.
For contact information on insurance policies visit the company’s website in your local country.
For North America, visit qbe.com/us
If you’re in Australia, visit qbe.com/au
Those in Canada can visit qbecanada.com/
For Asia Pacific visit qbeap.com
And Europe visit, qbeeurope.com
For those in New Zealand, visit qbe.com/nz
And for reinsurance, visit qbere.com.
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