QBE Continues the Simplification and Derisking Process. FVE AUD 12.50 Unchanged
No-moat-rated QBE Insurance Group continues the slow and painful simplification and derisking journey. The global business model continues to shrink with announced sales of underperforming businesses in Puerto Rico, Indonesia, and the Philippines added to the growing list. In addition to derisking the business, simplification allows an operational efficiency program, with the firm targeting net cost savings of USD 130 million by 2021.We maintain our AUD 12.50 fair value estimate and at current ...
QBE Insurance Group engages in underwriting general insurance and reinsurance risks, management of Lloyd's syndicates and investment management. Co.'s segments are: North American Operations, which writes general insurance and reinsurance in the U.S.; European Operations, which writes general insurance in the U.K., Canada and mainland Europe; Australian and New Zealand Operations, which underwrites general insurance risks in Australia and New Zealand; Emerging Markets, which writes general insurance in North, Central and South America and provides personal, commercial and general insurance covers in the Asia Pacific region; and Equator Re, which provides reinsurance protection in Bermuda.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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