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QBE sees $228 million loss on write-downs, higher claims in North America

December 9, 2013 - 6:00am


QBE Insurance Group Ltd. expects a loss of $250 million Australian ($228 million) during the 2013 financial year because of write-downs and higher claims at its North American operations, The Herald Sun reported citing the Australian Associated Press.

The insurer said the 2013 results would be hit by AUD 600 million in goodwill write-downs, mainly in North America. It also said its chairwoman Belinda Hutchison will resign in March 2014 and will be succeeded by Marty Becker.

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