Company news: QBE Insurance
QBE Insurance presented at a conference. The company reiterated its guidance for FY-15 (QBE's financial year = calendar year) of a combined operating ratio (COR) unchanged at 94-95%, and insurance profit margin unchanged at 8.5-10.0%. Slightly disappointing was advice that these would be at the high and low end of the ranges respectively. (COR reflects underwriting results, with below 100% indicating profit.) Premium pricing pressures have impacted the company. Recent market volatility has also dampened returns from investments a little. However, overall QBE is tracking quite well with no major events (catastrophe cost overrun or crop failures for instance) impacting their forecast.