Insurance & Technology News
|
Buffeted QBE cuts dividend as well as jobs as new chief tries to steady the ship
Feb 26, 2013 (The Australian - ABIX via COMTEX) --
QBE Insurance shares fell 1.8% to $A12.79 on 26 February 2013, after the group reported an eight per cent rise in after-tax profit to $A761m for calendar 2012. QBE reduced its final dividend from $A0.25 to $A0.10 per share, while the proportion of profit paid as dividends was cut from 70% to 50%. CEO John Neal said the insurance company was preparing to cut 700 jobs, in line with plans to reduce costs by $US250m over three years.
Publication Date: 27 February 2013
QBE INSURANCE GROUP LIMITED - ASX QBE
MORNINGSTAR PTY LTD
XL GROUP PTY LTD
[ Back To Insurance Technology's Homepage ]
|
UPDATED 10:12 PM EST - Jun 18, 2013
|
|
 Featured Editorial
 Subscribe to eNews
Insurance Technology eNews delivers the latest news impacting technology in the insurance industry each week. Sign up to receive FREE breaking news today!
 Online Demo
 Insurance Technology RSS
|