QBE's woes continue

By Greg Smith
Updated April 23 2014 - 8:08pm, first published 3:00am
Brad Paterson
Brad Paterson

The latest results from QBE were hardly glowing. Australia's second-largest insurer reported a $US254 million ($271 million) net loss for 2013 on the back of operational issues and write-downs at the company's troubled US division. The large loss compares with last year's profit of $US761 million. The company's cash profit came in at $US761 million compared with a December forecast of $US850 million, caused by one-off restructuring costs.

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