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International

QBE profits from unloading foreign operations, streamlining

August 16, 2018 Reprints

Australia-based QBE Insurance Group Ltd.'s net profit grew 4% year over year to $358 million in the first half driven by streamlining of its operations and fewer natural disasters, Reuters reported. The insurer sold its operations in Latin America to Zurich Insurance Group A.G. and offloaded underperforming units in Thailand and Hong Kong. Pat Regan, chief executive of QBE, said that the underperforming businesses and portfolios had generated an underwriting loss of over $200 million in 2017.

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QBE profits from unloading foreign operations, streamlining

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